Insider Buying: Community Financial System (NYSE:CBU) Director Acquires $30,268.84 in Stock

Community Financial System, Inc. (NYSE:CBU) Director Brenda Hall purchased 476 shares of Community Financial System stock in a transaction on Monday, August 24th. The shares were acquired at an average cost of $63.59 per share, for a total transaction of $30,268.84. Following the completion of the transaction, the director owned 515 shares of the company’s stock, valued at $32,748.85. This represents a 1,220.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Community Financial System Trading Up 0.6%

CBU traded up $0.39 during trading on Wednesday, hitting $63.32. 64,712 shares of the company’s stock were exchanged, compared to its average volume of 261,683. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.29. Community Financial System, Inc. has a 1 year low of $53.46 and a 1 year high of $71.11. The stock has a 50 day moving average price of $65.85 and a 200 day moving average price of $63.40. The firm has a market cap of $3.33 billion, a P/E ratio of 14.69 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 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The business had revenue of $218.45 million during 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 EPS. As a group, analysts expect that Community Financial System, Inc. will post 4.58 EPS for the current fiscal year.

Community Financial System Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James Financial restated 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. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Piper Sandler upped their price target on Community Financial System from $66.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sei Investments Co. raised its position in shares of Community Financial System by 94.0% in the 1st quarter. Sei Investments Co. now owns 54,224 shares of the bank’s stock valued at $3,180,000 after purchasing an additional 26,269 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Community Financial System during the second quarter worth approximately $507,210,000. NFJ Investment Group LLC bought a new stake in shares of Community Financial System in the second quarter worth $17,456,000. Fifth Third Bancorp increased its stake in shares of Community Financial System by 7,231.2% in the first quarter. Fifth Third Bancorp now owns 16,422 shares of the bank’s stock worth $963,000 after buying an additional 16,198 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Community Financial System by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank’s stock valued at $106,647,000 after acquiring an additional 20,428 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.