Community Financial System, Inc. (NYSE:CBU) Receives $69.75 Average PT from Analysts

Shares of Community Financial System, Inc. (NYSE:CBU) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $69.75.

A number of research analysts have issued reports on CBU shares. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Piper Sandler increased their target price on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. Finally, DA Davidson started coverage on shares of Community Financial System in a report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 target price for the company.

Community Financial System Trading Up 0.1%

NYSE CBU opened at $61.76 on Monday. The stock has a market capitalization of $3.25 billion, a P/E ratio of 14.99 and a beta of 0.78. Community Financial System has a 52-week low of $51.12 and a 52-week high of $67.50. The firm has a 50-day moving average price of $60.44 and a 200 day moving average price of $60.29. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22.

Community Financial System (NYSE:CBU) last posted its quarterly earnings results 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. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The firm had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. During the same period in the prior year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts expect that Community Financial System will post 4.74 EPS for the current year.

Community Financial System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 dividend on an annualized basis and a yield of 3.0%. Community Financial System’s dividend payout ratio (DPR) is 45.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Community Financial System by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank’s stock valued at $106,647,000 after buying an additional 20,428 shares in the last quarter. Norges Bank acquired a new stake in shares of Community Financial System in the fourth quarter valued at approximately $38,993,000. Bank of America Corp DE grew 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 purchasing an additional 363,012 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Community Financial System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock valued at $31,308,000 after purchasing an additional 40,384 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Community Financial System by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 541,428 shares of the bank’s stock valued at $31,100,000 after purchasing an additional 16,990 shares during the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

About Community Financial System

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.