Community Financial System (NYSE:CBU) Shares Pass Above 200-Day Moving Average – What’s Next?

Community Financial System, Inc. (NYSE:CBU) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.81 and traded as high as $61.78. Community Financial System shares last traded at $61.3070, with a volume of 189,450 shares changing hands.

Analyst Upgrades and Downgrades

CBU has been the topic of several analyst reports. Piper Sandler began coverage on Community Financial System in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $66.00 price target (down from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Community Financial System has an average rating of “Hold” and a consensus target price of $64.00.

Community Financial System Stock Down 0.4%

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $58.13 and a 200-day moving average price of $57.81. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 15.80 and a beta of 0.79.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, October 21st. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. The firm had revenue of $206.82 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. On average, equities analysts forecast that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Dividend Announcement

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

Institutional Investors Weigh In On Community Financial System

A number of institutional investors and hedge funds have recently bought and sold shares of CBU. Farther Finance Advisors LLC grew its stake in Community Financial System by 841.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,403 shares of the bank’s stock worth $80,000 after acquiring an additional 1,254 shares during the period. Norges Bank purchased a new position in shares of Community Financial System during the 2nd quarter worth $34,546,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Community Financial System by 56.1% during the second quarter. Y Intercept Hong Kong Ltd now owns 19,060 shares of the bank’s stock worth $1,084,000 after purchasing an additional 6,850 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Community Financial System by 16.4% in the second quarter. Envestnet Asset Management Inc. now owns 97,781 shares of the bank’s stock valued at $5,561,000 after purchasing an additional 13,794 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Community Financial System by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 50,920 shares of the bank’s stock valued at $2,896,000 after purchasing an additional 514 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

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.