Community Financial System (NYSE:CBU) Now Covered by DA Davidson

DA Davidson initiated coverage on shares of Community Financial System (NYSE:CBU) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $72.00 price objective on the bank’s stock.

Other analysts have also recently issued research reports about the stock. Janney Montgomery Scott cut shares of Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Piper Sandler initiated coverage on shares of 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. Finally, Wall Street Zen cut Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Community Financial System presently has an average rating of “Hold” and an average target price of $66.67.

Community Financial System Stock Performance

Shares of CBU stock opened at $63.59 on Wednesday. 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 0.75, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.35 billion, a P/E ratio of 16.02 and a beta of 0.81. The firm has a fifty day moving average price of $62.21 and a 200 day moving average price of $59.51.

Community Financial System (NYSE:CBU) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The business had revenue of $215.56 million for the quarter, compared to analyst estimates of $212.85 million. During the same period in the prior year, the company posted $0.94 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Community Financial System will post 4.18 earnings per share 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. Stockholders of record on Monday, March 16th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, March 16th. Community Financial System’s dividend payout ratio is presently 47.36%.

Insider Transactions at Community Financial System

In other Community Financial System news, Director John F. Whipple sold 4,246 shares of Community Financial System stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total value of $276,711.82. Following the transaction, the director directly owned 8,506 shares in the company, valued at approximately $554,336.02. This trade represents a 33.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the transaction, the director directly owned 33,342 shares in the company, valued at approximately $2,158,894.50. The trade was a 5.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.01% of the company’s stock.

Institutional Trading of Community Financial System

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Community Financial System during the fourth quarter worth about $38,993,000. Bank of America Corp DE raised its stake in shares of Community Financial System by 132.9% during the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after buying an additional 363,012 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of Community Financial System by 740.1% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock valued at $23,059,000 after buying an additional 353,663 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in Community Financial System during the second quarter worth $15,185,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Community Financial System by 10,989.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank’s stock worth $11,491,000 after acquiring an additional 198,245 shares in the last quarter. 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.