Community Financial System, Inc. (NYSE:CBU) Stock Has Average Target Price of $70.00

Shares of Community Financial System, Inc. (NYSE:CBU) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $70.00.

Several equities research analysts have recently issued reports on CBU shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Community Financial System in a research report on Tuesday, September 29th. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods reduced their price target on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Thursday, July 30th. Finally, Piper Sandler decreased their price target on shares of Community Financial System from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday.

Community Financial System Stock Performance

NYSE CBU opened at $58.58 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.29. Community Financial System has a twelve month low of $53.46 and a twelve month high of $71.11. The business has a 50-day moving average price of $62.72 and a 200-day moving average price of $63.37. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 13.59 and a beta of 0.76.

Community Financial System (NYSE:CBU) last issued its earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.02). Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The business had revenue of $218.45 million for the quarter, compared to the consensus estimate of $221.77 million. During the same period last year, the business posted $1.04 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts predict that Community Financial System will post 4.61 EPS for the current fiscal year.

Community Financial System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Community Financial System’s previous quarterly dividend of $0.47. Community Financial System’s dividend payout ratio is presently 45.48%.

Insider Activity

In other news, Director Brenda M. Hall bought 476 shares of the stock in a transaction dated Monday, August 24th. The stock was purchased at an average cost of $63.59 per share, for a total transaction of $30,268.84. Following the transaction, the director owned 515 shares of the company’s stock, valued at $32,748.85. The trade was a 1,220.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Community Financial System

Several institutional investors have recently bought and sold shares of CBU. Deutsche Bank AG bought a new position in shares of Community Financial System in the 2nd quarter valued at about $3,796,000. BlackRock Inc. bought a new stake in Community Financial System during the second quarter worth approximately $507,210,000. The Manufacturers Life Insurance Company purchased a new stake in Community Financial System during the second quarter valued at approximately $1,777,000. Legal & General Group Plc bought a new stake in shares of Community Financial System in the 2nd quarter valued at approximately $8,376,000. Finally, NFJ Investment Group LLC bought a new stake in shares of Community Financial System in the 2nd quarter valued at approximately $17,456,000. Institutional investors own 73.79% of the company’s stock.

Community Financial System Company Profile

Community Financial System, Inc (NYSE: CBU) is a diversified financial services company headquartered in DeWitt, New York. Its principal banking subsidiary, Community Bank, N.A., provides a broad range of financial products and services to individuals, families, farmers, small businesses and commercial customers.

The company’s banking operations include deposit accounts, residential and commercial lending, agricultural financing, consumer loans, cash management and other business banking services.