Community Financial System (NYSE:CBU) Hits New 12-Month High – Time to Buy?

Community Financial System, Inc. (NYSE:CBU)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $69.26 and last traded at $69.17, with a volume of 137053 shares. The stock had previously closed at $67.88.

Wall Street Analysts Forecast Growth

CBU has been the topic of several research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a research report on Thursday, April 30th. Wall Street Zen cut Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Piper Sandler lifted their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.75.

Community Financial System Stock Up 1.3%

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 16.68 and a beta of 0.77. The business’s 50-day moving average is $64.51 and its 200-day moving average is $62.43.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $213.69 million for the quarter, compared to the consensus estimate of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. As a group, equities analysts predict that Community Financial System, Inc. will post 4.7 earnings per share for the current year.

Community Financial System Announces Dividend

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

Insider Activity at Community Financial System

In other Community Financial System news, Director Mark J. Bolus sold 12,191 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the sale, the director owned 94,060 shares in the company, valued at approximately $6,302,020. This represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the sale, the director directly owned 31,592 shares in the company, valued at $2,021,256.16. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 1.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Community Financial System

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Community Financial System during the fourth quarter worth $38,993,000. Bank of America Corp DE increased its holdings in Community Financial System by 132.9% in the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock valued at $37,310,000 after buying an additional 363,012 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of 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 worth $23,059,000 after acquiring an additional 353,663 shares during the period. Basswood Capital Management L.L.C. acquired a new position in shares of Community Financial System in the second quarter worth about $15,185,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Community Financial System by 10,989.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank’s stock worth $11,491,000 after acquiring an additional 198,245 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.