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

Shares of Community Financial System, Inc. (NYSE:CBU) passed 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 changing hands.

Wall Street Analysts Forecast Growth

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

Community Financial System Stock Up 0.9%

The firm has a market cap of $3.33 billion, a P/E ratio of 14.30 and a beta of 0.76. The firm’s fifty day moving average is $61.57 and its 200 day moving average is $62.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.77 and a current ratio of 0.77.

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

Community Financial System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Tuesday, December 15th will be given a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. Community Financial System’s dividend payout ratio is presently 45.48%.

Insider Transactions at Community Financial System

In other news, Director Brenda M. Hall acquired 476 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $63.59 per share, with a total value of $30,268.84. Following the acquisition, the director directly owned 515 shares in the company, valued at $32,748.85. This represents a 1,220.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Community Financial System

Hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC grew its stake in shares of Community Financial System by 1,915.3% in the third quarter. ProShare Advisors LLC now owns 153,729 shares of the bank’s stock valued at $9,153,000 after acquiring an additional 146,101 shares in the last quarter. Inspire Investing LLC increased its position in Community Financial System by 5.5% during the third quarter. Inspire Investing LLC now owns 10,727 shares of the bank’s stock worth $639,000 after acquiring an additional 560 shares during the period. Farther Finance Advisors LLC raised its stake in Community Financial System by 17.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,623 shares of the bank’s stock worth $216,000 after purchasing an additional 535 shares in the last quarter. Moody National Bank Trust Division raised its stake in Community Financial System by 8.2% in the 3rd quarter. Moody National Bank Trust Division now owns 22,224 shares of the bank’s stock worth $1,323,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Eastern Bank bought a new stake in Community Financial System in the 3rd quarter valued at about $71,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

About Community Financial System

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.