Community Financial System, Inc. (NYSE:CBU) Given Consensus Rating of “Moderate Buy” by Brokerages

Community Financial System, Inc. (NYSE:CBU) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. Four investment 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $69.75.

CBU has been the subject of several recent research reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. Piper Sandler lifted their price target on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. DA Davidson assumed coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target on the stock. Finally, Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th.

Insider Transactions at Community Financial System

In related news, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total value of $127,960.00. Following the sale, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On Community Financial System

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its stake in Community Financial System by 17.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 114,362 shares of the bank’s stock worth $6,706,000 after purchasing an additional 16,581 shares during the last quarter. SG Americas Securities LLC boosted its stake in Community Financial System by 2,430.6% during the 4th quarter. SG Americas Securities LLC now owns 168,892 shares of the bank’s stock worth $9,701,000 after purchasing an additional 162,218 shares during the last quarter. Numerai GP LLC acquired a new stake in Community Financial System during the 3rd quarter worth $4,117,000. Public Sector Pension Investment Board boosted its stake in Community Financial System by 14.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 206,169 shares of the bank’s stock worth $12,090,000 after purchasing an additional 26,002 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in Community Financial System by 692.8% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 47,787 shares of the bank’s stock worth $2,802,000 after purchasing an additional 41,759 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Financial System Price Performance

NYSE:CBU opened at $65.36 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 15.86 and a beta of 0.78. The company has a 50 day moving average price of $62.75 and a 200-day moving average price of $61.31. Community Financial System has a 1-year low of $51.12 and a 1-year high of $67.50.

Community Financial System (NYSE:CBU) last posted its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.05. The firm had revenue of $213.69 million during the quarter, compared to analyst estimates of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Equities research analysts forecast that Community Financial System will post 4.74 EPS for the current year.

Community Financial System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 dividend on an annualized basis and a yield of 2.9%. Community Financial System’s dividend payout ratio (DPR) is currently 45.63%.

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.