Wall Street Zen Upgrades Community Financial System (NYSE:CBU) to “Hold”

Community Financial System (NYSE:CBU) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on CBU. Weiss Ratings raised Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price objective on shares of Community Financial System in a report on Thursday, April 30th. Finally, Piper Sandler increased their price objective on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One equities 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.75.

Community Financial System Trading Down 0.2%

Community Financial System stock opened at $67.09 on Friday. The stock has a 50-day simple moving average of $65.38 and a 200 day simple moving average of $62.98. The stock has a market capitalization of $3.53 billion, a P/E ratio of 16.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System has a 52 week low of $51.12 and a 52 week high of $71.11.

Community Financial System (NYSE:CBU) last released its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating 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 company had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Analysts expect that Community Financial System will post 4.7 earnings per share for the current year.

Insider Activity

In other news, Director Eric Stickels sold 2,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the sale, the director directly owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. This represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total transaction of $816,797.00. Following the sale, the director owned 94,060 shares in the company, valued at $6,302,020. The trade was a 11.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Community Financial System

A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Community Financial System by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank’s stock valued at $1,771,000 after acquiring an additional 1,362 shares during the period. Goldman Sachs Group Inc. increased its stake in Community Financial System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock valued at $31,308,000 after purchasing an additional 40,384 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Community Financial System by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock valued at $7,768,000 after purchasing an additional 8,182 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Community Financial System by 523.4% during the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock valued at $8,286,000 after purchasing an additional 122,343 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of Community Financial System by 37.5% during the 1st quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock worth $1,470,000 after purchasing an additional 7,052 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

About Community Financial System

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.