Keefe, Bruyette & Woods Cuts Community Financial System (NYSE:CBU) Price Target to $67.00

Community Financial System (NYSE:CBU) had its price objective decreased by Keefe, Bruyette & Woods from $69.00 to $67.00 in a report published on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Separately, Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research report on Friday, May 16th.

Community Financial System Stock Performance

Shares of Community Financial System stock opened at $54.29 on Wednesday. The company has a 50 day moving average price of $56.81 and a 200 day moving average price of $58.41. The firm has a market capitalization of $2.87 billion, a P/E ratio of 14.79 and a beta of 0.78. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.38. Community Financial System has a 52 week low of $49.44 and a 52 week high of $73.39.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $199.30 million for the quarter, compared to analyst estimates of $201.93 million. Community Financial System had a net margin of 19.91% and a return on equity of 10.71%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. Sell-side analysts expect that Community Financial System will post 4.18 EPS for the current year.

Community Financial System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 12th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, September 12th. This is an increase from Community Financial System’s previous quarterly dividend of $0.46. Community Financial System’s dividend payout ratio is 50.14%.

Institutional Trading of Community Financial System

Several institutional investors and hedge funds have recently bought and sold shares of CBU. Raymond James Financial Inc. purchased a new stake in Community Financial System in the fourth quarter valued at $687,000. Commonwealth Equity Services LLC boosted its stake in shares of Community Financial System by 3.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 25,293 shares of the bank’s stock worth $1,560,000 after buying an additional 750 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Community Financial System by 4.7% in the fourth quarter. Natixis Advisors LLC now owns 14,127 shares of the bank’s stock worth $871,000 after buying an additional 639 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Community Financial System by 4.0% during the 4th quarter. Corient Private Wealth LLC now owns 8,526 shares of the bank’s stock worth $526,000 after purchasing an additional 327 shares during the period. Finally, Xponance Inc. acquired a new stake in shares of Community Financial System during the 4th quarter worth approximately $232,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Financial System Company Profile

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.