Community Financial System (NYSE:CBU) Sets New 12-Month High – Still a Buy?

Shares of Community Financial System, Inc. (NYSE:CBU) hit a new 52-week high during trading on Wednesday . The stock traded as high as $69.26 and last traded at $69.17, with a volume of 137053 shares trading hands. The stock had previously closed at $67.88.

Analyst Upgrades and Downgrades

CBU has been the subject of several recent analyst reports. Piper Sandler lifted their target price on shares of Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Wall Street Zen cut shares of Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.75.

Community Financial System Price Performance

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $64.75 and its two-hundred day moving average price is $62.58. The stock has a market capitalization of $3.73 billion, a PE ratio of 17.23 and a beta of 0.77.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company had revenue of $213.69 million for the quarter, compared to the consensus estimate of $216.36 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Community Financial System, Inc. will post 4.7 earnings per share for the current year.

Community Financial System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.88 dividend on an annualized basis and a yield of 2.6%. Community Financial System’s dividend payout ratio is currently 45.63%.

Insider Buying and Selling at Community Financial System

In related news, Director Mark J. Bolus sold 12,191 shares of the firm’s 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 transaction, the director directly owned 94,060 shares of the company’s stock, valued at approximately $6,302,020. This trade represents a 11.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated 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 directly owned 31,592 shares of the company’s stock, valued at $2,021,256.16. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.15% of the company’s stock.

Institutional Trading of Community Financial System

Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in Community Financial System by 507.0% in the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock worth $30,000 after buying an additional 436 shares during the period. GAMMA Investing LLC increased its stake in Community Financial System by 38.4% in the 2nd quarter. GAMMA Investing LLC now owns 541 shares of the bank’s stock worth $36,000 after buying an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Community Financial System by 177.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after buying an additional 499 shares in the last quarter. Lipe & Dalton bought a new stake in Community Financial System during the fourth quarter valued at about $52,000. Finally, Strs Ohio bought a new stake in Community Financial System during the first quarter valued at about $102,000. 73.79% of the stock is currently owned by institutional investors.

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.