Eric Stickels Sells 2,000 Shares of Community Financial System (NYSE:CBU) Stock

Community Financial System, Inc. (NYSE:CBU) Director Eric Stickels sold 2,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the transaction, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Community Financial System Trading Up 0.7%

Community Financial System stock opened at $65.36 on Friday. The firm has a 50-day moving average of $62.75 and a 200-day moving average of $61.31. Community Financial System, Inc. has a one year low of $51.12 and a one year high of $67.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 15.86 and a beta of 0.78.

Community Financial System (NYSE:CBU) last posted 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 net margin of 21.26% and a return on equity of 11.24%. The company 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 posted $0.98 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts expect that Community Financial System, Inc. will post 4.74 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, June 15th. Community Financial System’s dividend payout ratio (DPR) is 45.63%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CBU shares. Piper Sandler raised their target price on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. DA Davidson started coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 target price for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.75.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Community Financial System by 3.4% in the 1st quarter. Bank of America Corp DE now owns 598,786 shares of the bank’s stock valued at $35,119,000 after acquiring an additional 19,433 shares during the period. Amundi raised its holdings in Community Financial System by 13.3% in the 1st quarter. Amundi now owns 8,972 shares of the bank’s stock valued at $526,000 after acquiring an additional 1,051 shares during the period. California State Teachers Retirement System raised its holdings in Community Financial System by 13.7% in the 1st quarter. California State Teachers Retirement System now owns 56,805 shares of the bank’s stock valued at $3,332,000 after acquiring an additional 6,844 shares during the period. Quantinno Capital Management LP raised its holdings in Community Financial System by 191.3% in the 1st quarter. Quantinno Capital Management LP now owns 20,561 shares of the bank’s stock valued at $1,206,000 after acquiring an additional 13,502 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Community Financial System by 2.6% in the 1st quarter. Lazard Asset Management LLC now owns 23,677 shares of the bank’s stock valued at $1,389,000 after acquiring an additional 599 shares during the period. 73.79% of the stock is owned by institutional investors.

Community Financial System Company Profile

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.