Maureen Gillan-Myer Sells 3,450 Shares of Community Financial System (NYSE:CBU) Stock

Community Financial System, Inc. (NYSE:CBU) EVP Maureen Gillan-Myer sold 3,450 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $58.85, for a total value of $203,032.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Community Financial System Price Performance

Shares of NYSE CBU opened at $60.07 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Community Financial System, Inc. has a twelve month low of $49.44 and a twelve month high of $67.50. The stock has a 50 day moving average of $62.40 and a two-hundred day moving average of $59.64. The stock has a market cap of $3.17 billion, a P/E ratio of 15.13 and a beta of 0.80.

Community Financial System (NYSE:CBU) last announced its earnings results on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). 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 for the quarter, compared to analysts’ expectations of $212.85 million. During the same quarter last year, the business posted $0.94 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be paid a $0.47 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a yield of 3.1%. Community Financial System’s payout ratio is currently 47.36%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Community Financial System during the 4th quarter worth about $38,993,000. Bank of America Corp DE raised its position in shares of Community Financial System by 132.9% in the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock valued at $37,310,000 after buying an additional 363,012 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Community Financial System by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock valued at $31,308,000 after buying an additional 40,384 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Community Financial System by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 541,428 shares of the bank’s stock worth $31,100,000 after purchasing an additional 16,990 shares during the period. Finally, 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 buying an additional 353,663 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CBU. Weiss Ratings reissued a “hold (c+)” rating on shares of Community Financial System in a report on Monday, December 29th. DA Davidson initiated coverage on Community Financial System in a report on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price target for the company. Wall Street Zen lowered Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Janney Montgomery Scott lowered shares of Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Finally, Piper Sandler began coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price target on the stock. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Community Financial System currently has an average rating of “Hold” and an average target price of $66.67.

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.