Community Financial System (NYSE:CBU) Price Target Cut to $68.00 by Analysts at Keefe, Bruyette & Woods

Community Financial System (NYSE:CBU) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $70.00 to $68.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 5.46% from the company’s current price.

CBU has been the subject of several other reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $75.00 price objective on shares of Community Financial System in a research report on Thursday, April 30th. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Piper Sandler upped their price target on Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.25.

Community Financial System Stock Performance

Shares of CBU stock opened at $64.48 on Thursday. Community Financial System has a 52 week low of $51.12 and a 52 week high of $71.11. The firm has a 50 day moving average of $65.52 and a two-hundred day moving average of $63.08. The company has a quick ratio of 0.77, a current ratio of 0.76 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.39 billion, a PE ratio of 14.96 and a beta of 0.77.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.02). Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The company had revenue of $218.45 million for the quarter, compared to analysts’ expectations of $221.77 million. During the same quarter last year, the company earned $1.04 EPS. Community Financial System’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, research analysts predict that Community Financial System will post 4.7 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark J. Bolus sold 12,191 shares of Community Financial System stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total transaction of $816,797.00. Following the sale, the director owned 94,060 shares in the company, valued at approximately $6,302,020. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were 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 of the company’s stock, valued at $2,021,256.16. The trade was a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On Community Financial System

Several large investors have recently modified their holdings of CBU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Community Financial System by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank’s stock worth $1,771,000 after acquiring an additional 1,362 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Community Financial System by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after purchasing an additional 40,384 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Community Financial System by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock worth $7,768,000 after purchasing an additional 8,182 shares during the period. Jane Street Group LLC grew its position in Community Financial System by 523.4% during the 1st quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock worth $8,286,000 after purchasing an additional 122,343 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Community Financial System by 37.5% during the 1st quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock worth $1,470,000 after purchasing an additional 7,052 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

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.