Community Financial System (NYSE:CBU) Director Eric Stickels Sells 2,000 Shares of Stock

Community Financial System, Inc. (NYSE:CBU) Director Eric Stickels sold 2,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $63.98, for a total value of $127,960.00. Following the transaction, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Community Financial System Stock Up 0.3%

NYSE:CBU opened at $64.98 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $3.42 billion, a PE ratio of 15.77 and a beta of 0.78. Community Financial System, Inc. has a 52-week low of $51.12 and a 52-week high of $67.50. The stock has a 50-day simple moving average of $62.62 and a 200 day simple moving average of $61.25.

Community Financial System (NYSE:CBU) last posted its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 11.24% and a net margin of 21.26%.Community Financial System’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, sell-side analysts expect that Community Financial System, Inc. will post 4.74 EPS for the current fiscal year.

Community Financial System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, June 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.9%. Community Financial System’s dividend payout ratio (DPR) is presently 45.63%.

Institutional Trading of Community Financial System

A number of hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of Community Financial System by 14.9% in the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after buying an additional 189 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Community Financial System by 0.4% in the second quarter. California State Teachers Retirement System now owns 48,580 shares of the bank’s stock valued at $2,763,000 after buying an additional 191 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Community Financial System by 1.0% in the second quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock valued at $1,164,000 after buying an additional 201 shares during the last quarter. Truist Financial Corp lifted its position in shares of Community Financial System by 1.8% in the fourth quarter. Truist Financial Corp now owns 12,205 shares of the bank’s stock valued at $701,000 after buying an additional 215 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Community Financial System by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank’s stock valued at $577,000 after buying an additional 231 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CBU. Piper Sandler increased their price objective on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Raymond James Financial restated a “strong-buy” rating and issued a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. DA Davidson started coverage on Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target for the company. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.75.

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.