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

Community Financial System, Inc. (NYSE:CBU) Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the transaction, the director owned 33,342 shares of the company’s stock, valued at $2,158,894.50. This trade represents a 5.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Community Financial System Price Performance

Shares of Community Financial System stock traded up $0.16 on Thursday, hitting $65.40. The company’s stock had a trading volume of 154,194 shares, compared to its average volume of 241,715. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $68.11. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 16.47 and a beta of 0.81. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.75. The firm has a fifty day moving average price of $60.34 and a 200-day moving average price of $58.33.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.06). The firm had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, sell-side analysts anticipate that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be paid a $0.47 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.88 annualized dividend and a dividend yield of 2.9%. Community Financial System’s payout ratio is 47.36%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CBU. EverSource Wealth Advisors LLC lifted its stake in shares of Community Financial System by 177.0% in 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 during the last quarter. Lipe & Dalton bought a new position in Community Financial System during the fourth quarter worth $52,000. CWM LLC lifted its stake 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 period. Smartleaf Asset Management LLC boosted its stake in Community Financial System by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after buying an additional 189 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Community Financial System by 110.7% during the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock worth $87,000 after purchasing an additional 777 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Wall Street Analyst Weigh In

CBU has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a report on Monday, December 29th. Janney Montgomery Scott lowered shares of Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Wall Street Zen lowered shares of Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Piper Sandler initiated coverage on Community Financial System in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 target price on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $66.00 target price (down previously from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $64.00.

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.