Community Financial System (NYSE:CBU) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Community Financial System, Inc. (NYSE:CBU – Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $62.85 and traded as high as $64.07. Community Financial System shares last traded at $63.3510, with a volume of 251,425 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on CBU. DA Davidson decreased their price objective on Community Financial System from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Keefe, Bruyette & Woods lowered their target price on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Thursday, July 30th. Piper Sandler reduced their price target on shares of Community Financial System from $71.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Community Financial System in a report on Tuesday, September 29th. Finally, Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Community Financial System has a consensus rating of “Moderate Buy” and an average price target of $69.25.

Check Out Our Latest Research Report on Community Financial System

Community Financial System Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 14.03 and a beta of 0.76. The company has a fifty day simple moving average of $61.55 and a two-hundred day simple moving average of $62.86.

Community Financial System (NYSE:CBU – Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.19 by $0.08. Community Financial System had a net margin of 22.05% and a return on equity of 11.78%. The business had revenue of $230.21 million during the quarter, compared to the consensus estimate of $227.15 million. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Community Financial System, Inc. will post 4.60 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Tuesday, December 15th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, December 15th. Community Financial System’s dividend payout ratio is currently 44.24%.

Insider Activity

In related news, Director Brenda M. Hall purchased 476 shares of Community Financial System stock in a transaction on Monday, August 24th. The stock was acquired at an average cost of $63.59 per share, for a total transaction of $30,268.84. Following the completion of the acquisition, the director owned 515 shares of the company’s stock, valued at $32,748.85. This trade represents a 1,220.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.15% of the company’s stock.

Institutional Trading of Community Financial System

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of 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. Nykredit A S purchased a new position in Community Financial System during the 2nd quarter valued at $38,000. Public Employees Retirement System of Ohio bought a new position in shares of Community Financial System in the second quarter worth about $44,000. Versant Capital Management Inc grew its stake in Community Financial System by 69.6% in the 3rd quarter. Versant Capital Management Inc now owns 875 shares of the bank’s stock worth $52,000 after acquiring an additional 359 shares in the last quarter. Finally, Eastern Bank purchased a new position in Community Financial System during the 3rd quarter worth $71,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

About Community Financial System

(Get Free Report)

Community Financial System, Inc (NYSE: CBU) is a diversified financial services company headquartered in DeWitt, New York. Formerly known as Community Bank System, Inc, the company traces its banking history to 1866 and operates through Community Bank, N.A., along with other financial services businesses.

Its banking operations provide consumer and commercial deposit accounts, residential and commercial lending, agricultural financing, municipal banking, cash management, and other financial products.

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