Community Financial System (NYSE:CBU) Director John Vaccaro Acquires 317 Shares of Stock

Community Financial System, Inc. (NYSE:CBU) Director John Vaccaro acquired 317 shares of the stock in a transaction dated Thursday, August 27th. The shares were bought at an average price of $63.11 per share, with a total value of $20,005.87. Following the completion of the purchase, the director directly owned 492 shares of the company’s stock, valued at approximately $31,050.12. This trade represents a 181.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Community Financial System Stock Performance

Shares of NYSE CBU traded up $0.07 during mid-day trading on Friday, hitting $63.15. The stock had a trading volume of 146,981 shares, compared to its average volume of 260,862. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50 day moving average of $65.91 and a two-hundred day moving average of $63.36. Community Financial System, Inc. has a twelve month low of $53.46 and a twelve month high of $71.11. The firm has a market cap of $3.32 billion, a PE ratio of 14.65 and a beta of 0.78.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The firm had revenue of $218.45 million for the quarter, compared to analyst estimates of $221.77 million. Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The business’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Research analysts predict that Community Financial System, Inc. will post 4.58 EPS for the current fiscal year.

Community Financial System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.1%. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. Community Financial System’s payout ratio is currently 45.48%.

Institutional Investors Weigh In On Community Financial System

Several hedge funds and other institutional investors have recently bought and sold shares of CBU. BlackRock Inc. acquired a new stake in shares of Community Financial System during the 2nd quarter worth approximately $507,210,000. California State Teachers Retirement System lifted its stake in shares of Community Financial System by 7,119.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,100,965 shares of the bank’s stock valued at $275,257,000 after purchasing an additional 4,044,160 shares during the last quarter. Norges Bank purchased a new position in shares of Community Financial System during the 4th quarter worth $38,993,000. Bank of New York Mellon Corp acquired a new stake in shares of Community Financial System during the 2nd quarter worth about $36,523,000. Finally, Bank of America Corp DE increased its position in shares of Community Financial System by 132.9% during the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after purchasing an additional 363,012 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CBU shares. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Monday, August 10th. Piper Sandler upped their target price on shares of Community Financial System from $66.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Raymond James Financial restated a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Community Financial System currently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

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.