Brokerages Set Community Financial System, Inc. (NYSE:CBU) PT at $66.67

Shares of Community Financial System, Inc. (NYSE:CBU) have earned an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $66.6667.

Several equities analysts recently issued reports on CBU shares. Weiss Ratings cut Community Financial System from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 23rd. Piper Sandler initiated coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price on the stock. Janney Montgomery Scott cut Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, DA Davidson initiated coverage on shares of Community Financial System in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price objective on the stock.

Community Financial System Trading Down 1.9%

Shares of Community Financial System stock opened at $56.79 on Friday. Community Financial System has a 12-month low of $49.44 and a 12-month high of $67.50. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.99 billion, a PE ratio of 14.31 and a beta of 0.80. The company has a 50-day moving average of $61.58 and a two-hundred day moving average of $59.40.

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 the consensus estimate of $1.13 by ($0.01). The firm had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.Community Financial System’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. On average, research analysts anticipate that Community Financial System will post 4.18 EPS for the current fiscal year.

Community Financial System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. Community Financial System’s payout ratio is presently 47.36%.

Insider Buying and Selling at Community Financial System

In other news, Director John F. Whipple sold 4,246 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $65.17, for a total value of $276,711.82. Following the sale, the director directly owned 8,506 shares in the company, valued at $554,336.02. This represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total transaction of $129,500.00. Following the transaction, the director directly owned 33,342 shares of the company’s stock, valued at approximately $2,158,894.50. This trade represents a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,696 shares of company stock valued at $609,244 over the last quarter. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Community Financial System

Institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC grew its stake in Community Financial System by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank’s stock worth $577,000 after acquiring an additional 231 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Community Financial System by 11.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,755 shares of the bank’s stock worth $618,000 after purchasing an additional 1,106 shares during the period. XTX Topco Ltd acquired a new stake in shares of Community Financial System during the fourth quarter worth $288,000. Inspire Investing LLC grew its position in shares of Community Financial System by 5.5% in the fourth quarter. Inspire Investing LLC now owns 8,139 shares of the bank’s stock valued at $468,000 after purchasing an additional 426 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in shares of Community Financial System by 5.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 317,274 shares of the bank’s stock valued at $18,224,000 after purchasing an additional 15,128 shares during the period. 73.79% of the stock is owned by institutional investors and hedge funds.

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.