Community Financial System (NYSE:CBU) Director Buys $30,268.84 in Stock

Community Financial System, Inc. (NYSE:CBU) Director Brenda Hall purchased 476 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $63.59 per share, for a total transaction of $30,268.84. Following the purchase, the director owned 515 shares in the company, valued at approximately $32,748.85. The trade was a 1,220.51% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Community Financial System Price Performance

Community Financial System stock opened at $63.15 on Friday. 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 52 week low of $53.46 and a 52 week high of $71.11. The stock has a market capitalization of $3.32 billion, a P/E ratio of 14.65 and a beta of 0.78. The stock has a fifty day moving average of $65.93 and a 200-day moving average of $63.36.

Community Financial System (NYSE:CBU) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.02). Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The business had revenue of $218.45 million during the quarter, compared to analyst estimates of $221.77 million. During the same period last year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts expect that Community Financial System, Inc. will post 4.58 earnings per share for the current fiscal year.

Community Financial System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 15th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is currently 43.62%.

Wall Street Analyst Weigh In

CBU has been the topic of several research reports. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Monday, August 10th. Piper Sandler increased their price objective on shares of 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 cut their target price on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Institutional Investors Weigh In On Community Financial System

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its stake in shares of Community Financial System by 507.0% during the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after acquiring an additional 436 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Community Financial System by 38.4% in the second quarter. GAMMA Investing LLC now owns 541 shares of the bank’s stock worth $36,000 after purchasing an additional 150 shares during the last quarter. Nykredit A S bought a new stake in shares of Community Financial System in the second quarter worth $38,000. Public Employees Retirement System of Ohio acquired a new stake in Community Financial System in the second quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Community Financial System by 177.0% in the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after purchasing an additional 499 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.