Shares of Community Financial System, Inc. (NYSE:CBU – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $69.75.
A number of equities research analysts recently commented on CBU shares. Weiss Ratings downgraded Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a research report on Thursday, April 30th. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Piper Sandler boosted their price objective on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th.
View Our Latest Analysis on Community Financial System
Community Financial System Price Performance
Community Financial System (NYSE:CBU – Get Free Report) last posted its earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $213.69 million for the quarter, compared to the consensus estimate of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, analysts expect that Community Financial System will post 4.74 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. Shareholders of record on Monday, June 15th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. Community Financial System’s payout ratio is presently 45.63%.
Insider Activity at Community Financial System
In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the business’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 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. The trade was a 5.95% decrease in their ownership of the stock. The sale 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 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 value of $816,797.00. Following the sale, the director directly owned 94,060 shares in the company, valued at $6,302,020. The trade was a 11.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.15% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its stake 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 valued at $2,763,000 after buying an additional 191 shares during the last quarter. Lazard Asset Management LLC raised its position in Community Financial System by 1.0% during the 2nd quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock valued at $1,164,000 after purchasing an additional 201 shares in the last quarter. Truist Financial Corp raised its position in Community Financial System by 1.8% during the 4th quarter. Truist Financial Corp now owns 12,205 shares of the bank’s stock valued at $701,000 after purchasing an additional 215 shares in the last quarter. Corient Private Wealth LLC raised its position in Community Financial System by 2.4% during the 4th quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank’s stock valued at $577,000 after purchasing an additional 231 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Community Financial System by 0.3% during the 2nd quarter. California Public Employees Retirement System now owns 92,254 shares of the bank’s stock valued at $5,246,000 after purchasing an additional 243 shares in the last quarter. Institutional investors 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.
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