Community Financial System (NYSE:CBU) Raised to Hold at Wall Street Zen

Community Financial System (NYSE:CBU) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts have also issued research reports about the company. DA Davidson started coverage on Community Financial System in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target on the stock. Weiss Ratings upgraded Community Financial System from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. Finally, Piper Sandler assumed coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.67.

Community Financial System Price Performance

CBU stock opened at $56.26 on Friday. The company has a market capitalization of $2.97 billion, a P/E ratio of 14.17 and a beta of 0.80. The company has a fifty day moving average price of $61.98 and a 200-day moving average price of $59.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.76. Community Financial System has a 52-week low of $49.44 and a 52-week high of $67.50.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). The business had revenue of $215.56 million during the quarter, compared to the consensus estimate of $212.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. As a group, equities analysts expect that Community Financial System will post 4.18 EPS for the current year.

Insider Transactions at Community Financial System

In related news, Director John F. Whipple sold 4,246 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total transaction of $276,711.82. Following the sale, the director owned 8,506 shares in the company, valued at $554,336.02. This represents a 33.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total value of $129,500.00. Following the sale, the director directly owned 33,342 shares of the company’s stock, valued at $2,158,894.50. This represents a 5.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,696 shares of company stock valued at $609,244. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Community Financial System

A number of institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc increased its stake in shares of Community Financial System by 507.0% in the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after acquiring an additional 436 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after acquiring an additional 499 shares in the last quarter. Lipe & Dalton acquired a new stake in Community Financial System in the fourth quarter worth $52,000. CWM LLC grew its holdings in Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank’s stock worth $53,000 after purchasing an additional 323 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Community Financial System by 14.9% in the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after purchasing an additional 189 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors.

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.