Brokerages Set Community Financial System, Inc. (NYSE:CBU) Price Target at $69.75

Community Financial System, Inc. (NYSE:CBU) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $69.75.

Several analysts have weighed in on CBU shares. Piper Sandler lifted their target price 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. Weiss Ratings raised Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday.

Insider Buying and Selling

In related news, Director Mark J. Bolus sold 12,191 shares of the business’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 transaction of $816,797.00. Following the sale, the director owned 94,060 shares of the company’s stock, valued at $6,302,020. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Stickels sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 of the company’s stock, valued at $2,021,256.16. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Community Financial System

Several hedge funds and other institutional investors have recently bought and sold shares of CBU. IFP Advisors Inc grew its stake in shares of Community Financial System by 507.0% in the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock worth $30,000 after purchasing an additional 436 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Community Financial System by 177.0% during the 2nd 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 bought a new stake in shares of Community Financial System during the 4th quarter worth $52,000. Strs Ohio bought a new stake in shares of Community Financial System during the 1st quarter worth $102,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Community Financial System in the 4th quarter worth $155,000. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Stock Performance

Shares of NYSE:CBU traded up $0.29 during trading hours on Tuesday, hitting $67.91. The stock had a trading volume of 21,809 shares, compared to its average volume of 266,957. The stock’s fifty day simple moving average is $64.05 and its 200 day simple moving average is $62.13. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 16.47 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System has a 1-year low of $51.12 and a 1-year high of $69.23.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The business had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Community Financial System will post 4.7 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be issued a $0.47 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. Community Financial System’s dividend payout ratio (DPR) is 45.63%.

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.