Piper Sandler Begins Coverage on Community Financial System (NYSE:CBU)

Piper Sandler initiated coverage on shares of Community Financial System (NYSE:CBU) in a report released on Wednesday, Marketbeat reports. The firm set a “neutral” rating and a $62.00 price target on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 5.84% from the stock’s current price.

CBU has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a report on Monday. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $66.00 price objective (down from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Community Financial System Trading Up 1.5%

Community Financial System stock opened at $58.58 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50 day moving average price is $56.94 and its 200-day moving average price is $57.16. Community Financial System has a 1 year low of $49.44 and a 1 year high of $69.97. The stock has a market cap of $3.08 billion, a P/E ratio of 15.10 and a beta of 0.79.

Community Financial System (NYSE:CBU) last posted its earnings results on Tuesday, October 21st. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.06. The company had revenue of $206.82 million during the quarter, compared to analysts’ expectations of $206.85 million. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. Community Financial System’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. On average, equities analysts predict that Community Financial System will post 4.18 earnings per share for the current fiscal year.

Institutional Trading of Community Financial System

Institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new position in Community Financial System during the third quarter worth $331,000. Kestra Private Wealth Services LLC bought a new stake in shares of Community Financial System in the 3rd quarter worth about $244,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Community Financial System by 2.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 49,473 shares of the bank’s stock worth $2,915,000 after purchasing an additional 957 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Community Financial System during the 3rd quarter worth about $1,201,000. Finally, Verition Fund Management LLC bought a new position in Community Financial System during the 3rd quarter valued at about $2,710,000. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Company Profile

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.