Brokerages Set Community Financial System, Inc. (NYSE:CBU) Target Price at $66.67

Shares of Community Financial System, Inc. (NYSE:CBU) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $66.6667.

Several brokerages recently commented on CBU. Weiss Ratings cut Community Financial System from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Janney Montgomery Scott cut shares of Community Financial System from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. DA Davidson assumed coverage on shares of Community Financial System in a report on Wednesday, February 25th. They set a “neutral” rating and a $72.00 target price for the company. Finally, Piper Sandler assumed coverage on shares of Community Financial System in a research report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price for the company.

Insider Buying and Selling at Community Financial System

In other news, Director John F. Whipple sold 4,246 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total value of $276,711.82. Following the completion of the sale, the director directly owned 8,506 shares in the company, valued at $554,336.02. This represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the sale, the director directly owned 33,342 shares of the company’s stock, valued at approximately $2,158,894.50. This represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,696 shares of company stock worth $609,244. Insiders own 1.01% of the company’s stock.

Institutional Trading of Community Financial System

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings in Community Financial System by 507.0% in the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after buying an additional 436 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after acquiring an additional 499 shares during the period. Lipe & Dalton acquired a new position in shares of Community Financial System during the 4th quarter valued at about $52,000. CWM LLC boosted its position in shares of Community Financial System by 56.1% during the 3rd quarter. CWM LLC now owns 899 shares of the bank’s stock valued at $53,000 after acquiring an additional 323 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 189 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Financial System Trading Up 0.5%

Shares of Community Financial System stock opened at $57.91 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Community Financial System has a twelve month low of $49.44 and a twelve month high of $67.50. The firm has a market capitalization of $3.05 billion, a PE ratio of 14.59 and a beta of 0.80. The firm’s 50-day moving average price is $61.68 and its 200 day moving average price is $59.43.

Community Financial System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The firm had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. During the same quarter last year, the firm posted $0.94 earnings per share. Community Financial System’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Community Financial System will post 4.18 EPS for the current fiscal year.

Community Financial System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Monday, March 16th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. Community Financial System’s dividend payout ratio is currently 47.36%.

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.