Community Financial System, Inc. (NYSE:CBU) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Community Financial System, Inc. (NYSE:CBU) have received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $71.50.

Several research firms have recently commented on CBU. 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. Piper Sandler upped their target price on Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods lowered their price target on Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Thursday, July 30th. Finally, Raymond James Financial reiterated 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.

Community Financial System Price Performance

NYSE CBU opened at $64.48 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $3.39 billion, a PE ratio of 14.96 and a beta of 0.78. The firm’s 50 day moving average price is $66.01 and its 200-day moving average price is $63.42. Community Financial System has a 52-week low of $53.46 and a 52-week high of $71.11.

Community Financial System (NYSE:CBU) last posted 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). Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The firm had revenue of $218.45 million for the quarter, compared to analysts’ expectations of $221.77 million. During the same period in the previous year, the company earned $1.04 EPS. The company’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Community Financial System will post 4.6 EPS for the current fiscal year.

Community Financial System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Community Financial System’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 3.0%. Community Financial System’s dividend payout ratio is currently 45.48%.

Insider Transactions at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of the 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 sale, the director directly owned 31,592 shares of the company’s stock, valued at $2,021,256.16. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the transaction, the director owned 94,060 shares in the company, valued at $6,302,020. This represents a 11.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Community Financial System

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Community Financial System by 38.4% in the 2nd 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. California State Teachers Retirement System grew its holdings in shares of Community Financial System by 0.4% during the second quarter. California State Teachers Retirement System now owns 48,580 shares of the bank’s stock worth $2,763,000 after buying an additional 191 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Community Financial System by 1.0% during the second quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock worth $1,164,000 after buying an additional 201 shares in the last quarter. Truist Financial Corp raised its position in shares of Community Financial System by 1.8% in the fourth quarter. Truist Financial Corp now owns 12,205 shares of the bank’s stock valued at $701,000 after buying an additional 215 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Community Financial System by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank’s stock valued at $577,000 after buying an additional 231 shares during the last quarter. 73.79% of the stock is currently 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.