Community Financial System (NYSE:CBU) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Community Financial System (NYSE:CBU) from a sell rating to a hold rating in a research report report published on Monday.

Other analysts have also recently issued reports about the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. Keefe, Bruyette & Woods lowered their price objective on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a research note on Thursday, July 30th. Piper Sandler boosted their price objective on shares of Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings raised Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

Community Financial System Trading Down 1.3%

Community Financial System stock opened at $64.01 on Monday. Community Financial System has a 12 month low of $53.46 and a 12 month high of $71.11. The company has a current ratio of 0.76, a quick ratio of 0.77 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $65.80 and its two-hundred day simple moving average is $63.30. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 14.85 and a beta of 0.78.

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

Community Financial System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 15th. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. Community Financial System’s dividend payout ratio is 43.62%.

Insider Activity at Community Financial System

In related news, Director Mark J. Bolus sold 12,191 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the sale, the director owned 94,060 shares in the company, valued at $6,302,020. This represents a 11.47% 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. Also, Director Eric Stickels sold 2,000 shares of the company’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 value of $127,960.00. Following the completion of the sale, the director owned 31,592 shares in the company, valued at approximately $2,021,256.16. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On Community Financial System

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc grew its stake in Community Financial System by 507.0% during the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after acquiring an additional 436 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Community Financial System by 38.4% in the 2nd quarter. GAMMA Investing LLC now owns 541 shares of the bank’s stock valued at $36,000 after purchasing an additional 150 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after buying an additional 499 shares in the last quarter. Lipe & Dalton purchased a new stake in Community Financial System during the fourth quarter worth $52,000. Finally, Strs Ohio acquired a new stake in Community Financial System during the first quarter valued at $102,000. 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.