Community Financial System (NYSE:CBU) Upgraded 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 sent to investors on Saturday.

CBU has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $66.00 target price (down previously from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Piper Sandler began coverage on shares of Community Financial System in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 22nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Community Financial System currently has a consensus rating of “Hold” and a consensus price target of $64.00.

Community Financial System Stock Down 0.3%

NYSE:CBU opened at $58.86 on Friday. Community Financial System has a twelve month low of $49.44 and a twelve month high of $68.11. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.17 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $57.63 and its two-hundred day moving average price is $57.55.

Community Financial System (NYSE:CBU) last issued its earnings results on Tuesday, October 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. The company had revenue of $206.82 million for the quarter, compared to analysts’ expectations of $206.85 million. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. Community Financial System’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. Equities research analysts expect that Community Financial System will post 4.18 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Friday, December 12th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.88 annualized dividend and a yield of 3.2%. Community Financial System’s dividend payout ratio is presently 48.45%.

Institutional Investors Weigh In On Community Financial System

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in Community Financial System by 132.9% during the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after buying an additional 363,012 shares during the last quarter. Norges Bank bought a new stake in shares of Community Financial System during the second quarter worth about $34,546,000. Goldman Sachs Group Inc. raised its holdings in shares of Community Financial System by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after acquiring an additional 40,384 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Community Financial System by 25.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 354,906 shares of the bank’s stock worth $20,184,000 after acquiring an additional 71,631 shares during the last quarter. Finally, UBS Group AG lifted its position in Community Financial System by 129.6% in the 3rd quarter. UBS Group AG now owns 276,438 shares of the bank’s stock valued at $16,210,000 after acquiring an additional 156,049 shares in the last quarter. 73.79% of the stock is owned by institutional investors.

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.