Brokerages Set Community Financial System, Inc. (NYSE:CBU) PT at $69.75

Shares of Community Financial System, Inc. (NYSE:CBU) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $69.75.

A number of brokerages have issued reports on CBU. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler increased their price target on Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th.

Insider Transactions at Community Financial System

In other news, Director Mark J. Bolus sold 12,191 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the completion of the sale, the director directly owned 94,060 shares of the company’s stock, valued at $6,302,020. This represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the completion of the sale, the director owned 31,592 shares in the company, valued at $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Community Financial System by 2,430.6% during the fourth quarter. SG Americas Securities LLC now owns 168,892 shares of the bank’s stock worth $9,701,000 after purchasing an additional 162,218 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Community Financial System by 7,231.2% in the 1st quarter. Fifth Third Bancorp now owns 16,422 shares of the bank’s stock valued at $963,000 after buying an additional 16,198 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in Community Financial System by 11.1% during the 1st quarter. Deprince Race & Zollo Inc. now owns 530,874 shares of the bank’s stock worth $31,136,000 after buying an additional 53,191 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Community Financial System by 10,989.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank’s stock worth $11,491,000 after buying an additional 198,245 shares during the period. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in Community Financial System by 740.1% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock worth $23,059,000 after acquiring an additional 353,663 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Financial System Stock Performance

Community Financial System stock opened at $66.65 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22. Community Financial System has a 1 year low of $51.12 and a 1 year high of $71.11. The company has a market cap of $3.50 billion, a PE ratio of 16.18 and a beta of 0.77. The company’s 50-day moving average is $65.46 and its two-hundred day moving average is $63.03.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. Community Financial System’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. Equities analysts anticipate that Community Financial System will post 4.7 earnings per share for the current year.

Community Financial System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Community Financial System’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 2.9%. Community Financial System’s payout ratio is currently 45.63%.

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.