Community Financial System (NYSE:CBU) Director John Whipple Sells 4,246 Shares

Community Financial System, Inc. (NYSE:CBU) Director John Whipple sold 4,246 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total value of $276,711.82. Following the completion of the transaction, the director owned 8,506 shares in the company, valued at $554,336.02. The trade was a 33.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Community Financial System Stock Performance

Shares of CBU opened at $66.50 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 16.75 and a beta of 0.81. The stock has a 50 day moving average of $60.70 and a 200 day moving average of $58.44. Community Financial System, Inc. has a 12 month low of $49.44 and a 12 month high of $67.67.

Community Financial System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.06). Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The business had revenue of $215.56 million during the quarter, compared to analysts’ expectations of $212.85 million. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Monday, March 16th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, March 16th. This represents a $1.88 annualized dividend and a yield of 2.8%. Community Financial System’s dividend payout ratio is presently 47.36%.

Institutional Investors Weigh In On Community Financial System

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Community Financial System in the second quarter valued at $34,546,000. Bank of America Corp DE lifted its holdings in Community Financial System by 132.9% during the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after purchasing an additional 363,012 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in Community Financial System by 740.1% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock worth $23,059,000 after purchasing an additional 353,663 shares during the period. Basswood Capital Management L.L.C. purchased a new position in Community Financial System during the 2nd quarter valued at about $15,185,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in 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 valued at $11,491,000 after buying an additional 198,245 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CBU shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $66.00 price objective (down previously from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Wall Street Zen downgraded Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Piper Sandler initiated coverage on Community Financial System in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price on the stock. Finally, Janney Montgomery Scott cut Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Community Financial System presently has a consensus rating of “Hold” and an average price target of $64.00.

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.