Community Financial System (NYSE:CBU) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Community Financial System, Inc. (NYSE:CBU) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $57.81 and traded as high as $61.78. Community Financial System shares last traded at $61.3070, with a volume of 189,450 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages 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. Piper Sandler assumed coverage on Community Financial System in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price target for the company. Keefe, Bruyette & Woods reissued 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. Finally, Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Community Financial System currently has a consensus rating of “Hold” and a consensus price target of $64.00.

Community Financial System Price Performance

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 stock’s fifty day simple moving average is $58.13 and its 200-day simple moving average is $57.82. The company has a market capitalization of $3.23 billion, a P/E ratio of 15.80 and a beta of 0.79.

Community Financial System (NYSE:CBU) last announced its earnings results on Tuesday, October 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. The business had revenue of $206.82 million for the quarter, compared to analyst estimates of $206.85 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Community Financial System’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Friday, December 12th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, December 12th. Community Financial System’s dividend payout ratio is 48.45%.

Hedge Funds Weigh In On Community Financial System

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after purchasing an additional 499 shares in the last quarter. CWM LLC raised its holdings in shares of Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank’s stock valued at $53,000 after buying an additional 323 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Community Financial System by 841.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,403 shares of the bank’s stock worth $80,000 after buying an additional 1,254 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Community Financial System by 14.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after acquiring an additional 189 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Community Financial System by 110.7% in the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock worth $87,000 after acquiring an additional 777 shares during the last quarter. 73.79% of the stock is owned by institutional investors.

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.