Community Financial System (NYSE:CBU) Research Coverage Started at DA Davidson

DA Davidson started coverage on shares of Community Financial System (NYSE:CBU) in a research note released on Wednesday, Marketbeat reports. The firm issued a neutral rating and a $72.00 price target on the bank’s stock.

A number of other brokerages also recently issued reports on CBU. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Wall Street Zen lowered Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Janney Montgomery Scott cut shares of Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Finally, Piper Sandler assumed coverage on shares of Community Financial System in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price objective for the company. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.67.

Community Financial System Stock Performance

Shares of NYSE:CBU opened at $60.44 on Wednesday. The firm has a fifty day simple moving average of $62.27 and a two-hundred day simple moving average of $59.57. Community Financial System has a 52 week low of $49.44 and a 52 week high of $67.50. The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.18 billion, a P/E ratio of 15.22 and a beta of 0.81.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The business had revenue of $215.56 million during the quarter, compared to the consensus estimate of $212.85 million. During the same period in the previous year, the business posted $0.94 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Community Financial System will post 4.18 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, March 16th. Community Financial System’s dividend payout ratio (DPR) is currently 47.36%.

Insider Activity

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total transaction of $129,500.00. Following the transaction, the director owned 33,342 shares in the company, valued at approximately $2,158,894.50. This represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John F. Whipple sold 4,246 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total transaction of $276,711.82. Following the completion of the transaction, the director directly owned 8,506 shares of the company’s stock, valued at approximately $554,336.02. This represents a 33.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Community Financial System by 507.0% during the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock worth $30,000 after purchasing an additional 436 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after acquiring an additional 499 shares during the period. Lipe & Dalton purchased a new stake in shares of Community Financial System in the 4th quarter valued at $52,000. CWM LLC increased its stake in shares of Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank’s stock worth $53,000 after acquiring an additional 323 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Community Financial System by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after purchasing an additional 189 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

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.