Key Points
- Director Eric Stickels sold 2,000 shares at an average price of $64.75 on Feb. 3 for $129,500, reducing his stake by 5.66% to 33,342 shares (≈$2.16M), according to an SEC Form 4.
- Q4 results: the bank reported EPS of $1.07 (missing the $1.13 consensus) while revenue rose 9.8% YoY to $215.56M; the stock trades around $66.30 with a market cap of $3.49B and a P/E of ~16.7.
- The firm declared a quarterly dividend of $0.47 (annualized $1.88, yield ~2.8%) with an ex-dividend/record date of March 16, and analysts maintain an average "Hold" rating with a $64 price target amid recent downgrades.
Community Financial System, Inc. (NYSE:CBU - Get Free Report) Director Eric Stickels sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total transaction of $129,500.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website.
Community Financial System Price Performance
NYSE CBU traded up $1.06 on Friday, hitting $66.30. The stock had a trading volume of 6,477 shares, compared to its average volume of 245,887. 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 50-day moving average of $60.50 and a 200-day moving average of $58.38. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 16.68 and a beta of 0.81. Community Financial System, Inc. has a 52-week low of $49.44 and a 52-week high of $68.11.
Community Financial System (NYSE:CBU - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.06). Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The company had revenue of $215.56 million during the quarter, compared to analysts' expectations of $212.85 million. During the same quarter in the prior year, the firm posted $0.94 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current year.
Community Financial System Announces Dividend
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 given a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.88 annualized dividend and a yield of 2.8%. Community Financial System's dividend payout ratio is 47.36%.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wall Street Zen downgraded Community Financial System from a "hold" rating to a "sell" rating in a research note on Saturday, January 17th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $66.00 target price (down previously from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Community Financial System in a research report on Monday, December 29th. Janney Montgomery Scott lowered shares of Community Financial System from a "buy" rating to a "neutral" rating in a report on Tuesday, January 13th. Finally, Piper Sandler assumed coverage on shares of Community Financial System in a report on Wednesday, December 3rd. They issued a "neutral" rating and a $62.00 price target on the stock. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $64.00.
Read Our Latest Stock Analysis on CBU
Institutional Trading of Community Financial System
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in Community Financial System by 132.9% during the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank's stock worth $37,310,000 after buying an additional 363,012 shares in the last quarter. Norges Bank purchased a new stake in shares of Community Financial System during the second quarter worth about $34,546,000. Goldman Sachs Group Inc. boosted its stake in shares of Community Financial System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank's stock worth $31,308,000 after acquiring an additional 40,384 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in Community Financial System by 740.1% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank's stock worth $23,059,000 after purchasing an additional 353,663 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in Community Financial System by 25.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 354,906 shares of the bank's stock valued at $20,184,000 after acquiring an additional 71,631 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.
Community Financial System Company Profile
(
Get Free Report)
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.
Further Reading
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