Community Financial System, Inc. (NYSE:CBU) Stock Has Consensus Target Price of $70.00

Community Financial System, Inc. (NYSE:CBU) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $69.25.

A number of analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Community Financial System in a report on Tuesday, September 29th. DA Davidson cut their target price on Community Financial System from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a report on Monday, August 10th. Piper Sandler lowered their price target on Community Financial System from $71.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. Finally, Keefe, Bruyette & Woods lowered their price target on Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Thursday, July 30th.

Community Financial System Stock Up 1.4%

CBU opened at $59.42 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 13.79 and a beta of 0.76. The business has a 50-day moving average of $62.58 and a two-hundred day moving average of $63.43. Community Financial System has a 12 month low of $53.46 and a 12 month high of $71.11.

Community Financial System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The company had revenue of $218.45 million for the quarter, compared to analyst estimates of $221.77 million. During the same period in the prior year, the company earned $1.04 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. On average, research analysts expect that Community Financial System will post 4.61 earnings per share for the current year.

Community Financial System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders 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 dividend yield of 3.3%. The ex-dividend date is Tuesday, September 15th. This is an increase from Community Financial System’s previous quarterly dividend of $0.47. Community Financial System’s dividend payout ratio (DPR) is presently 45.48%.

Insider Transactions at Community Financial System

In other Community Financial System news, Director Brenda M. Hall purchased 476 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average price of $63.59 per share, for a total transaction of $30,268.84. Following the completion of the acquisition, the director owned 515 shares of the company’s stock, valued at approximately $32,748.85. This represents a 1,220.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On Community Financial System

Several institutional investors have recently bought and sold shares of CBU. BlackRock Inc. acquired a new position in shares of Community Financial System during the second quarter worth about $507,210,000. Dimensional Fund Advisors LP boosted its position in shares of Community Financial System by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank’s stock worth $106,647,000 after buying an additional 20,428 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Community Financial System in the second quarter worth about $36,523,000. Bank of America Corp DE grew its stake in shares of Community Financial System by 3.4% in the first quarter. Bank of America Corp DE now owns 598,786 shares of the bank’s stock valued at $35,119,000 after buying an additional 19,433 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Community Financial System by 11.1% in the first quarter. Deprince Race & Zollo Inc. now owns 530,874 shares of the bank’s stock valued at $31,136,000 after buying an additional 53,191 shares in the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Financial System Company Profile

Community Financial System, Inc (NYSE: CBU) is a diversified financial services company headquartered in DeWitt, New York. Its principal banking subsidiary, Community Bank, N.A., provides a broad range of financial products and services to individuals, families, farmers, small businesses and commercial customers.

The company’s banking operations include deposit accounts, residential and commercial lending, agricultural financing, consumer loans, cash management and other business banking services.