Community Financial System (NYSE:CBU) Sets New 12-Month High – What’s Next?

Community Financial System, Inc. (NYSE:CBU)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $67.80 and last traded at $67.8150, with a volume of 31850 shares trading hands. The stock had previously closed at $66.60.

Analyst Ratings Changes

CBU has been the subject of several analyst reports. Raymond James Financial restated a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. Piper Sandler increased their price target on shares of Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. DA Davidson began coverage on shares of Community Financial System in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price objective for the company. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings cut shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.75.

Community Financial System Price Performance

The business has a 50 day simple moving average of $63.26 and a two-hundred day simple moving average of $61.69. The firm has a market capitalization of $3.53 billion, a P/E ratio of 16.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77.

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

Community Financial System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. Community Financial System’s payout ratio is currently 45.63%.

Insider Activity at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the sale, the director owned 31,592 shares in the company, valued at approximately $2,021,256.16. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Community Financial System by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank’s stock worth $1,771,000 after purchasing an additional 1,362 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Community Financial System by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock valued at $31,308,000 after purchasing an additional 40,384 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Community Financial System by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock valued at $7,768,000 after buying an additional 8,182 shares in the last quarter. Jane Street Group LLC lifted its position in Community Financial System by 523.4% in the 1st quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock worth $8,286,000 after buying an additional 122,343 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Community Financial System by 37.5% in the 1st quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock worth $1,470,000 after buying an additional 7,052 shares during the last quarter. Institutional investors own 73.79% of the company’s stock.

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.