Community Financial System (NYSE:CBU) Director Sells $129,500.00 in Stock

Community Financial System, Inc. (NYSE:CBU) Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total transaction of $129,500.00. Following the sale, the director directly owned 33,342 shares in the company, valued at approximately $2,158,894.50. This trade represents a 5.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Community Financial System Trading Up 0.2%

NYSE:CBU traded up $0.16 on Thursday, reaching $65.40. The company’s stock had a trading volume of 154,194 shares, compared to its average volume of 241,715. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 16.47 and a beta of 0.81. The stock has a 50 day moving average price of $60.34 and a 200 day moving average price of $58.33. 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, Inc. has a 12-month low of $49.44 and a 12-month high of $68.11.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.06). The firm had revenue of $215.56 million during the quarter, compared to the consensus estimate of $212.85 million. Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. Community Financial System’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts anticipate that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be given 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 2.9%. Community Financial System’s dividend payout ratio is currently 47.36%.

Institutional Investors Weigh In On Community Financial System

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Community Financial System in the 2nd quarter worth approximately $34,546,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Community Financial System by 56.1% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 19,060 shares of the bank’s stock valued at $1,084,000 after acquiring an additional 6,850 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Community Financial System by 16.4% during the 2nd 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 last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Community Financial System by 1.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 50,920 shares of the bank’s stock worth $2,896,000 after acquiring an additional 514 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in Community Financial System by 1.2% in the second quarter. Yousif Capital Management LLC now owns 19,665 shares of the bank’s stock worth $1,118,000 after purchasing an additional 225 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CBU shares. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a report on Monday, December 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $66.00 price target (down previously from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Janney Montgomery Scott downgraded Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Piper Sandler began coverage on shares of Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price on the stock. Finally, Wall Street Zen lowered shares of Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.00.

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.