Community Financial System, Inc. (NYSE:CBU – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $71.50.
Several research firms have recently commented on CBU. Piper Sandler upped their price objective on Community Financial System from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Raymond James Financial restated a “strong-buy” rating and issued a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th. Keefe, Bruyette & Woods decreased their price objective on Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Monday, August 10th.
Check Out Our Latest Analysis on Community Financial System
Community Financial System Price Performance
Community Financial System (NYSE:CBU – Get Free Report) last announced its earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $218.45 million for the quarter, compared to the consensus estimate of $221.77 million. During the same quarter last year, the firm posted $1.04 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts expect that Community Financial System will post 4.58 EPS for the current year.
Community Financial System Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 15th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. Community Financial System’s dividend payout ratio is currently 43.62%.
Insider Buying and Selling at Community Financial System
In related news, Director Eric Stickels sold 2,000 shares of the company’s 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 completion of the transaction, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. This represents a 5.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is owned by company insiders.
Hedge Funds Weigh In On Community Financial System
A number of hedge funds have recently made changes to their positions in CBU. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Community Financial System during the second quarter worth about $235,000. California State Teachers Retirement System boosted its stake in Community Financial System by 7,119.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,100,965 shares of the bank’s stock worth $275,257,000 after purchasing an additional 4,044,160 shares during the period. AXQ Capital LP bought a new position in Community Financial System in the 2nd quarter worth approximately $216,000. Nykredit A S bought a new stake in shares of Community Financial System during the second quarter valued at approximately $38,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Community Financial System in the second quarter worth $1,267,000. 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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