Community Financial System (NYSE:CBU) EVP Sells $203,032.50 in Stock

Community Financial System, Inc. (NYSE:CBU) EVP Maureen Gillan-Myer sold 3,450 shares of the firm’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $58.85, for a total value of $203,032.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Community Financial System Stock Performance

NYSE CBU opened at $58.99 on Friday. The company has a fifty day moving average price of $62.40 and a 200-day moving average price of $59.65. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 14.86 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, Inc. has a 1 year low of $49.44 and a 1 year high of $67.50.

Community Financial System (NYSE:CBU) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $215.56 million for the quarter, compared to the consensus estimate of $212.85 million. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts predict that Community Financial System, Inc. will post 4.18 EPS 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. Shareholders 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 annualized dividend and a dividend yield of 3.2%. Community Financial System’s dividend payout ratio (DPR) is currently 47.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Community Financial System during the 4th quarter valued at approximately $38,993,000. Bank of America Corp DE raised its holdings in shares of Community Financial System by 132.9% in 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 period. Goldman Sachs Group Inc. raised its holdings in shares of Community Financial System by 7.9% in the 1st 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 during the period. Bank of New York Mellon Corp lifted its stake in Community Financial System by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 541,428 shares of the bank’s stock valued at $31,100,000 after purchasing an additional 16,990 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. lifted its stake in Community Financial System by 740.1% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock valued at $23,059,000 after purchasing an additional 353,663 shares during the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CBU. 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 Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. DA Davidson began coverage on Community Financial System in a report on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price target on the stock. Janney Montgomery Scott cut Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Finally, Piper Sandler assumed coverage on Community Financial System in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price objective for the company. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Community Financial System has a consensus rating of “Hold” and an average target price of $66.67.

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.