Community Financial System (NYSE:CBU) Sets New 52-Week High – What’s Next?

Community Financial System, Inc. (NYSE:CBU)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $67.80 and last traded at $67.8150, with a volume of 31850 shares trading hands. The stock had previously closed at $66.60.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CBU shares. Weiss Ratings downgraded Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 price objective on shares of Community Financial System in a research report on Thursday, April 30th. Finally, Piper Sandler increased their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Community Financial System has a consensus rating of “Moderate Buy” and a consensus target price of $69.75.

Community Financial System Stock Performance

The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.55 billion, a PE ratio of 16.37 and a beta of 0.78. The firm’s 50-day simple moving average is $63.48 and its 200-day simple moving average is $61.80.

Community Financial System (NYSE:CBU) last issued its earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $213.69 million for the quarter, compared to analyst estimates of $216.36 million. During the same period last year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Community Financial System, Inc. will post 4.74 earnings per share for the current year.

Community Financial System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, June 15th. Community Financial System’s dividend payout ratio (DPR) is presently 45.63%.

Insiders Place Their Bets

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $63.98, for a total value of $127,960.00. Following the completion of the sale, the director directly owned 31,592 shares in the company, valued at approximately $2,021,256.16. This represents a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Community Financial System

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Community Financial System in the fourth quarter worth about $38,993,000. Bank of America Corp DE increased its position in Community Financial System by 132.9% during the 3rd 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 period. Riggs Asset Managment Co. Inc. raised its holdings in shares of Community Financial System by 740.1% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock valued at $23,059,000 after purchasing an additional 353,663 shares in the last quarter. Basswood Capital Management L.L.C. bought a new stake in shares of Community Financial System in the 2nd quarter valued at about $15,185,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Community Financial System by 10,989.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank’s stock worth $11,491,000 after purchasing an additional 198,245 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

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.