Community Financial System (NYSE:CBU) Director Sells $127,960.00 in Stock

Community Financial System, Inc. (NYSE:CBU) Director Eric Stickels sold 2,000 shares of the business’s 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 of the company’s stock, valued at approximately $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Community Financial System Stock Up 1.0%

Shares of CBU opened at $66.03 on Friday. Community Financial System, Inc. has a one year low of $51.12 and a one year high of $67.50. The company has a market cap of $3.47 billion, a P/E ratio of 16.03 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a 50 day simple moving average of $62.88 and a two-hundred day simple moving average of $61.34.

Community Financial System (NYSE:CBU) last posted its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The firm had revenue of $213.69 million for the quarter, compared to analysts’ expectations of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Research analysts forecast that Community Financial System, Inc. will post 4.74 EPS for the current fiscal year.

Community Financial System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. Community Financial System’s payout ratio is presently 45.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CBU. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Piper Sandler lifted their price target on Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. DA Davidson began coverage on Community Financial System in a research note on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price target on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. Finally, Weiss Ratings raised Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.75.

Institutional Trading of Community Financial System

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in shares of Community Financial System by 17.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 114,362 shares of the bank’s stock worth $6,706,000 after buying an additional 16,581 shares during the period. SG Americas Securities LLC grew its position in shares of Community Financial System by 2,430.6% during the 4th quarter. SG Americas Securities LLC now owns 168,892 shares of the bank’s stock worth $9,701,000 after buying an additional 162,218 shares during the period. Numerai GP LLC acquired a new stake in shares of Community Financial System during the 3rd quarter worth approximately $4,117,000. Public Sector Pension Investment Board boosted its position in shares of Community Financial System by 14.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 206,169 shares of the bank’s stock worth $12,090,000 after purchasing an additional 26,002 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of Community Financial System by 692.8% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 47,787 shares of the bank’s stock worth $2,802,000 after purchasing an additional 41,759 shares in the last quarter. Institutional investors and hedge funds 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.