Community Financial System (NYSE:CBU) Director John Whipple Sells 4,246 Shares

Community Financial System, Inc. (NYSE:CBU) Director John Whipple sold 4,246 shares of Community Financial System stock in a transaction that occurred 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 completion of the sale, the director owned 8,506 shares of the company’s stock, valued at $554,336.02. This trade represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Community Financial System Stock Up 1.6%

Community Financial System stock traded up $1.06 during mid-day trading on Friday, hitting $66.45. 25,416 shares of the company’s stock were exchanged, compared to its average volume of 236,872. Community Financial System, Inc. has a 1-year low of $49.44 and a 1-year high of $67.67. The stock has a 50 day moving average of $60.50 and a two-hundred day moving average of $58.38. 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 stock has a market cap of $3.50 billion, a P/E ratio of 16.73 and a beta of 0.81.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.06). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The company 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 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, March 16th. Community Financial System’s payout ratio is presently 47.36%.

Hedge Funds Weigh In On Community Financial System

Several institutional investors and hedge funds have recently made changes to their positions in CBU. EverSource Wealth Advisors LLC increased its stake in shares of Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after purchasing an additional 499 shares during the period. CWM LLC increased its position in Community Financial System by 56.1% during the 3rd quarter. CWM LLC now owns 899 shares of the bank’s stock worth $53,000 after buying an additional 323 shares during the period. Lipe & Dalton acquired a new stake in shares of Community Financial System during the fourth quarter worth $52,000. Smartleaf Asset Management LLC boosted its position in shares of Community Financial System by 14.9% in the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after acquiring an additional 189 shares during the period. Finally, Covestor Ltd grew its stake in shares of Community Financial System by 110.7% in the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock valued at $87,000 after acquiring an additional 777 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analyst Ratings Changes

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

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.