Community Financial System (NYSE:CBU) Director Sells $816,797.00 in Stock

Community Financial System, Inc. (NYSE:CBU) Director Mark Bolus sold 12,191 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total transaction of $816,797.00. Following the completion of the transaction, the director directly owned 94,060 shares in the company, valued at $6,302,020. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Community Financial System Price Performance

CBU opened at $68.45 on Thursday. Community Financial System, Inc. has a fifty-two week low of $51.12 and a fifty-two week high of $68.77. The firm has a 50-day moving average of $63.76 and a 200 day moving average of $61.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $3.60 billion, a P/E ratio of 16.62 and a beta of 0.77.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. The business had revenue of $213.69 million for the quarter, compared to analyst estimates of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, research analysts expect that Community Financial System, Inc. will post 4.74 EPS for the current year.

Community Financial System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.7%. Community Financial System’s dividend payout ratio (DPR) is presently 45.63%.

Hedge Funds Weigh In On Community Financial System

Large investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Community Financial System by 507.0% during the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after purchasing an additional 436 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after buying an additional 499 shares in the last quarter. Lipe & Dalton bought a new stake in shares of Community Financial System during the fourth quarter valued at about $52,000. Strs Ohio bought a new stake in shares of Community Financial System during the first quarter valued at about $102,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Community Financial System in the fourth quarter worth about $155,000. 73.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CBU. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Piper Sandler raised their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Weiss Ratings lowered Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Finally, Raymond James Financial reaffirmed 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.75.

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.