Key Points
- Director Brenda Hall purchased 476 Community Financial System shares at an average price of $63.59, investing $30,268.84 and increasing her ownership by 1,220.51% to 515 shares.
- Community Financial System’s latest quarterly results modestly missed estimates, with EPS of $1.16 versus the $1.18 consensus and revenue of $218.45 million; however, revenue increased 12% year over year.
- The company raised its quarterly dividend from $0.47 to $0.49 per share, implying an annualized dividend of $1.96 and a 3.1% yield. Analysts maintain a “Moderate Buy” consensus with a $71.50 target price.
Community Financial System, Inc. (NYSE:CBU - Get Free Report) Director Brenda Hall acquired 476 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $63.59 per share, for a total transaction of $30,268.84. Following the completion of the purchase, the director owned 515 shares of the company's stock, valued at $32,748.85. This trade represents a 1,220.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Community Financial System Stock Performance
NYSE:CBU opened at $63.16 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a fifty-two week low of $53.46 and a fifty-two week high of $71.11. The company has a 50 day simple moving average of $65.89 and a two-hundred day simple moving average of $63.38. The company has a market capitalization of $3.32 billion, a PE ratio of 14.65 and a beta of 0.78.
Community Financial System (NYSE:CBU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $218.45 million during the quarter, compared to analyst estimates of $221.77 million. During the same quarter last year, the firm posted $1.04 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Research analysts anticipate that Community Financial System, Inc. will post 4.58 earnings per share for the current year.
Community Financial System Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.1%. This is an increase from Community Financial System's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. Community Financial System's payout ratio is currently 43.62%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Community Financial System from $66.00 to $71.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods dropped their price target on Community Financial System from $70.00 to $68.00 and set a "market perform" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings upgraded Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of Community Financial System from a "sell" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $75.00 target price on shares of Community Financial System in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.50.
Get Our Latest Stock Report on Community Financial System
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Community Financial System in the second quarter valued at approximately $507,210,000. California State Teachers Retirement System lifted its holdings in shares of Community Financial System by 7,119.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,100,965 shares of the bank's stock worth $275,257,000 after purchasing an additional 4,044,160 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Community Financial System by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank's stock worth $106,647,000 after purchasing an additional 20,428 shares in the last quarter. Norges Bank acquired a new stake in Community Financial System in the 4th quarter valued at $38,993,000. Finally, Bank of America Corp DE grew its position in Community Financial System by 132.9% in the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank's stock valued at $37,310,000 after purchasing an additional 363,012 shares during the period. Institutional investors own 73.79% of the company's stock.
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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