Community Financial System, Inc. (NYSE:CBU) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Community Financial System, Inc. (NYSE:CBU) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $71.50.

A number of analysts recently commented on the stock. Piper Sandler upped their price target on shares of Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods dropped their target price on Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Thursday, July 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 price target on shares of Community Financial System in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd.

Community Financial System Stock Down 0.8%

CBU opened at $64.48 on Wednesday. Community Financial System has a fifty-two week low of $53.46 and a fifty-two week high of $71.11. The firm has a market capitalization of $3.39 billion, a P/E ratio of 14.96 and a beta of 0.78. The company’s 50-day moving average is $66.01 and its 200 day moving average is $63.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.77 and a quick ratio of 0.77.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The business had revenue of $218.45 million for the quarter, compared to analysts’ expectations of $221.77 million. Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 earnings per share. Research analysts expect that Community Financial System will post 4.6 earnings per share for the current fiscal year.

Community Financial System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Tuesday, September 15th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 15th. Community Financial System’s dividend payout ratio (DPR) is 45.48%.

Insider Transactions at Community Financial System

In other news, Director Mark J. Bolus sold 12,191 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the completion of the transaction, the director directly owned 94,060 shares in the company, valued at approximately $6,302,020. This represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the transaction, the director owned 31,592 shares in the company, valued at $2,021,256.16. The trade was a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.15% of the company’s stock.

Institutional Trading of Community Financial System

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in Community Financial System by 38.4% during the 2nd quarter. GAMMA Investing LLC now owns 541 shares of the bank’s stock valued at $36,000 after buying an additional 150 shares in the last quarter. California State Teachers Retirement System grew its stake in Community Financial System by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 48,580 shares of the bank’s stock worth $2,763,000 after acquiring an additional 191 shares in the last quarter. Lazard Asset Management LLC grew its stake in Community Financial System by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock worth $1,164,000 after acquiring an additional 201 shares in the last quarter. Truist Financial Corp increased its position in shares of Community Financial System by 1.8% during the fourth quarter. Truist Financial Corp now owns 12,205 shares of the bank’s stock worth $701,000 after acquiring an additional 215 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Community Financial System by 2.4% during the fourth quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank’s stock worth $577,000 after acquiring an additional 231 shares during the period. Institutional investors own 73.79% of the company’s stock.

Community Financial System Company Profile

Community Financial System (NYSE: CBU) is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company’s product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.