Key Points
- Director Mark Bolus sold 12,191 shares of Community Financial System on June 25 at an average price of $67.00, totaling about $816,797. After the sale, he still held 94,060 shares, reducing his ownership by 11.47%.
- Community Financial System shares were trading around $66.72, near their 12-month high of $68.58, with a market cap of $3.51 billion and a price-to-earnings ratio of 16.19.
- The bank recently beat earnings expectations, reporting $1.15 EPS versus the $1.10 consensus, and it announced a quarterly dividend of $0.47 per share, implying a 2.8% annual yield.
Community Financial System, Inc. (NYSE:CBU - Get Free Report) Director Mark Bolus sold 12,191 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total value of $816,797.00. Following the transaction, the director directly owned 94,060 shares of the company's stock, valued at $6,302,020. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Community Financial System Trading Down 1.1%
Shares of NYSE CBU opened at $66.72 on Tuesday. Community Financial System, Inc. has a 12-month low of $51.12 and a 12-month high of $68.58. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 16.19 and a beta of 0.78. 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 stock's 50 day simple moving average is $63.58 and its 200 day simple moving average is $61.87.
Community Financial System (NYSE:CBU - Get Free Report) last issued its quarterly earnings data 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 return on equity of 11.24% and a net margin of 21.26%.The firm had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. During the same period in the prior year, the business earned $0.98 EPS. The firm's revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Community Financial System, Inc. will post 4.74 EPS 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. Investors of record on Monday, June 15th will be given a $0.47 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.88 annualized dividend and a yield of 2.8%. Community Financial System's dividend payout ratio (DPR) is currently 45.63%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on CBU shares. Piper Sandler lifted 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. Weiss Ratings cut Community Financial System from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 17th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded Community Financial System from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Community Financial System has an average rating of "Moderate Buy" and a consensus target price of $69.75.
Read Our Latest Research Report on CBU
Institutional Trading of Community Financial System
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Community Financial System in the 4th quarter worth approximately $38,993,000. Bank of America Corp DE increased its stake in shares of 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 valued at $37,310,000 after acquiring an additional 363,012 shares during the period. Riggs Asset Managment Co. Inc. increased its stake in shares of Community Financial System by 740.1% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank's stock valued at $23,059,000 after acquiring an additional 353,663 shares during the period. Basswood Capital Management L.L.C. bought a new stake in Community Financial System during the second quarter worth approximately $15,185,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Community Financial System by 10,989.2% during the fourth 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 in the last quarter. 73.79% of the stock is currently owned by institutional investors.
About Community Financial System
(
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.
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