Wall Street Zen Downgrades Community Financial System (NYSE:CBU) to Sell

Community Financial System (NYSE:CBU) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Several other research firms also recently weighed in on CBU. Piper Sandler lifted their target price on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Raymond James Financial restated a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

Community Financial System Trading Up 2.6%

NYSE CBU opened at $66.49 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.76 and a quick ratio of 0.77. The stock has a market capitalization of $3.49 billion, a P/E ratio of 15.43 and a beta of 0.77. The firm’s 50-day moving average is $65.65 and its two-hundred day moving average is $63.17. Community Financial System has a 12 month low of $51.26 and a 12 month high of $71.11.

Community Financial System (NYSE:CBU) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The company 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%. Community Financial System’s 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. On average, sell-side analysts anticipate that Community Financial System will post 4.64 earnings per share for the current year.

Insider Transactions 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 shares were sold at an average price of $67.00, for a total transaction of $816,797.00. Following the sale, the director directly owned 94,060 shares in the company, valued at approximately $6,302,020. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the firm’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 transaction of $127,960.00. Following the completion of the sale, the director directly owned 31,592 shares in the company, valued at approximately $2,021,256.16. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.15% of the company’s stock.

Institutional Trading of Community Financial System

A number of institutional investors have recently bought and sold shares of CBU. IFP Advisors Inc increased its holdings 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 valued at $30,000 after acquiring an additional 436 shares during the last quarter. GAMMA Investing LLC boosted 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 purchasing an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 499 shares in the last quarter. Lipe & Dalton purchased a new position in Community Financial System in the fourth quarter valued at approximately $52,000. Finally, Strs Ohio purchased a new position in Community Financial System in the first quarter valued at approximately $102,000. 73.79% of the stock is owned by hedge funds and other 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.