Analysts Set Community Financial System, Inc. (NYSE:CBU) Target Price at $66.67

Community Financial System, Inc. (NYSE:CBU) has received an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $66.6667.

A number of equities research analysts have recently weighed in on CBU shares. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. DA Davidson began coverage on shares of Community Financial System in a research note on Wednesday. They issued a “neutral” rating and a $72.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Piper Sandler assumed coverage on shares of Community Financial System in a report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price objective on the stock.

Insider Activity at Community Financial System

In related news, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total transaction of $129,500.00. Following the completion of the transaction, the director owned 33,342 shares of the company’s stock, valued at $2,158,894.50. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John F. Whipple sold 4,246 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $65.17, for a total transaction of $276,711.82. Following the transaction, the director owned 8,506 shares of the company’s stock, valued at $554,336.02. This represents a 33.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Community Financial System by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank’s stock worth $1,771,000 after acquiring an additional 1,362 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Community Financial System by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after purchasing an additional 40,384 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Community Financial System by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock worth $7,768,000 after purchasing an additional 8,182 shares during the last quarter. Jane Street Group LLC lifted its stake in Community Financial System by 523.4% in the 1st quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock valued at $8,286,000 after buying an additional 122,343 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Community Financial System by 37.5% in the 1st quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock worth $1,470,000 after buying an additional 7,052 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Financial System Price Performance

Shares of CBU opened at $60.44 on Wednesday. The company has a 50 day moving average of $62.27 and a two-hundred day moving average of $59.57. The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 0.23. Community Financial System has a twelve month low of $49.44 and a twelve month high of $67.50. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 15.22 and a beta of 0.81.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The business had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. During the same quarter in the prior year, the company posted $0.94 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts predict that Community Financial System will post 4.18 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Monday, March 16th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.1%. Community Financial System’s payout ratio is 47.36%.

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.