Community Financial System (NYSE:CBU) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Community Financial System (NYSE:CBU) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other research firms have also recently issued reports on CBU. Weiss Ratings upgraded Community Financial System from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 6th. Janney Montgomery Scott downgraded Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. DA Davidson began coverage on Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target on the stock. Finally, Piper Sandler initiated coverage on Community Financial System in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Community Financial System currently has an average rating of “Hold” and an average price target of $66.67.

Community Financial System Stock Performance

CBU opened at $56.26 on Friday. The firm has a fifty day moving average price of $61.98 and a 200 day moving average price of $59.49. Community Financial System has a 1 year low of $49.44 and a 1 year high of $67.50. The stock has a market cap of $2.97 billion, a P/E ratio of 14.17 and a beta of 0.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.76 and a quick ratio of 0.76.

Community Financial System (NYSE:CBU) last posted its earnings results 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). The firm had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Equities research analysts anticipate that Community Financial System will post 4.18 earnings per share for the current year.

Community Financial System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be given a $0.47 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.3%. Community Financial System’s dividend payout ratio is 47.36%.

Insider Buying and Selling at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total transaction of $129,500.00. Following the transaction, the director owned 33,342 shares of the company’s stock, valued at approximately $2,158,894.50. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maureen A. Gillan-Myer sold 3,450 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $58.85, for a total transaction of $203,032.50. The SEC filing for this sale provides additional information. Insiders sold a total of 9,696 shares of company stock worth $609,244 in the last three months. 1.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Community Financial System

Several large investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in Community Financial System by 507.0% during the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock worth $30,000 after acquiring an additional 436 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Community Financial System by 177.0% during the 2nd 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 last quarter. Lipe & Dalton purchased a new stake in shares of Community Financial System during the 4th quarter worth $52,000. CWM LLC grew its stake in shares of Community Financial System by 56.1% during the third quarter. CWM LLC now owns 899 shares of the bank’s stock worth $53,000 after purchasing an additional 323 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Community Financial System by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after purchasing an additional 189 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

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.