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 released on Saturday.

Other equities research analysts have also issued research reports about the stock. Piper Sandler upped their target price on shares of Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $75.00 price objective on shares of Community Financial System in a research note on Thursday, April 30th. 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.com, Community Financial System currently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Community Financial System Stock Performance

NYSE CBU opened at $66.65 on Friday. The company has a market cap of $3.50 billion, a PE ratio of 16.18 and a beta of 0.77. The stock’s 50 day simple moving average is $65.46 and its 200-day simple moving average is $63.03. Community Financial System has a 1-year low of $51.12 and a 1-year high of $71.11. The company has a debt-to-equity ratio of 0.22, 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 Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) 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 analyst estimates of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts anticipate that Community Financial System will post 4.7 EPS for the current fiscal year.

Community Financial System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be paid a $0.49 dividend. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.9%. Community Financial System’s dividend payout ratio is 45.63%.

Insiders Place Their Bets

In other news, Director Mark J. Bolus sold 12,191 shares of Community Financial System stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total transaction of $816,797.00. Following the transaction, the director owned 94,060 shares in the company, valued at $6,302,020. The trade was a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated 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 directly owned 31,592 shares in the company, valued at approximately $2,021,256.16. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Community Financial System

Institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc increased its holdings in shares of Community Financial System by 507.0% during the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock worth $30,000 after buying an additional 436 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Community Financial System by 38.4% in the second quarter. GAMMA Investing LLC now owns 541 shares of the bank’s stock valued at $36,000 after acquiring an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Community Financial System by 177.0% in the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after acquiring an additional 499 shares during the last quarter. Lipe & Dalton purchased a new position in Community Financial System in the fourth quarter worth approximately $52,000. Finally, Strs Ohio purchased a new position in Community Financial System in the first quarter worth approximately $102,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

About Community Financial System

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.