Mark Bolus Sells 12,191 Shares of Community Financial System (NYSE:CBU) Stock

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

Community Financial System Price Performance

Shares of CBU traded down $1.02 during trading hours on Monday, reaching $66.45. The stock had a trading volume of 174,937 shares, compared to its average volume of 267,424. 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, Inc. has a 12 month low of $51.12 and a 12 month high of $68.58. The stock has a market capitalization of $3.49 billion, a PE ratio of 16.13 and a beta of 0.78. The company’s 50-day moving average is $63.48 and its two-hundred day moving average is $61.82.

Community Financial System (NYSE:CBU) last issued its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The business had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. Research analysts expect that Community Financial System, Inc. will post 4.74 EPS for the current year.

Community Financial System Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on CBU shares. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. Weiss Ratings lowered shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Piper Sandler boosted their price objective on shares of Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One research 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. According to MarketBeat, Community Financial System currently has an average rating of “Moderate Buy” and a consensus target price of $69.75.

Institutional Trading of Community Financial System

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position 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 worth $30,000 after purchasing an additional 436 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of 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 buying an additional 499 shares during the period. Lipe & Dalton acquired a new stake in shares of Community Financial System during the fourth quarter worth $52,000. Strs Ohio bought a new position in Community Financial System during the first quarter worth $102,000. Finally, Kestra Advisory Services LLC bought a new position in Community Financial System during the fourth quarter worth $155,000. Institutional investors and hedge funds 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.