Community Financial System, Inc. (NYSE:CBU) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Community Financial System, Inc. (NYSE:CBU) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $69.75.

Several brokerages have issued reports on CBU. Piper Sandler raised 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. Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 price objective on shares of Community Financial System in a research note on Thursday, April 30th. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. 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, DA Davidson began coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price target for the company.

Community Financial System Stock Down 0.7%

Shares of NYSE CBU opened at $61.76 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.76. The company has a market cap of $3.25 billion, a P/E ratio of 14.99 and a beta of 0.78. Community Financial System has a 1 year low of $51.12 and a 1 year high of $67.50. The firm has a 50-day simple moving average of $60.44 and a two-hundred day simple moving average of $60.27.

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

Community Financial System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, June 15th. Community Financial System’s payout ratio is currently 45.63%.

Institutional Trading of Community Financial System

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in shares of Community Financial System by 17.0% during the third quarter. Envestnet Asset Management Inc. now owns 114,362 shares of the bank’s stock valued at $6,706,000 after acquiring an additional 16,581 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Community Financial System by 2,430.6% during the fourth quarter. SG Americas Securities LLC now owns 168,892 shares of the bank’s stock valued at $9,701,000 after acquiring an additional 162,218 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Community Financial System by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 206,169 shares of the bank’s stock valued at $12,090,000 after acquiring an additional 26,002 shares in the last quarter. Numerai GP LLC bought a new stake in shares of Community Financial System during the third quarter valued at approximately $4,117,000. Finally, Riggs Asset Managment Co. Inc. raised its stake in shares of Community Financial System by 692.8% during the third quarter. Riggs Asset Managment Co. Inc. now owns 47,787 shares of the bank’s stock valued at $2,802,000 after acquiring an additional 41,759 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

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.