Community Financial System (NYSE:CBU) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Community Financial System, Inc. (NYSE:CBU)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.44 and traded as high as $60.88. Community Financial System shares last traded at $60.10, with a volume of 777,957 shares trading hands.

Wall Street Analysts Forecast Growth

CBU has been the subject of several research analyst reports. Piper Sandler started coverage on 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Community Financial System in a report on Monday. Wall Street Zen cut shares of Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $66.00 price objective (down from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.00.

Community Financial System Stock Down 1.0%

The business has a 50-day moving average price of $57.32 and a 200-day moving average price of $57.44. The stock has a market cap of $3.16 billion, a PE ratio of 15.49 and a beta of 0.79. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, October 21st. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.03 by $0.06. The company had revenue of $206.82 million during the quarter, compared to analyst estimates of $206.85 million. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.1%. Community Financial System’s dividend payout ratio is presently 48.45%.

Institutional Trading of Community Financial System

Hedge funds have recently bought and sold shares of the business. Rise Advisors LLC raised its stake in Community Financial System by 48.8% during the first quarter. Rise Advisors LLC now owns 698 shares of the bank’s stock worth $40,000 after purchasing an additional 229 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Community Financial System by 177.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after buying an additional 499 shares during the period. CWM LLC increased its holdings in shares of Community Financial System by 56.1% during the 3rd quarter. CWM LLC now owns 899 shares of the bank’s stock worth $53,000 after buying an additional 323 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Community Financial System by 841.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,403 shares of the bank’s stock valued at $80,000 after buying an additional 1,254 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Community Financial System by 14.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after buying an additional 189 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

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.