Community Financial System (NYSE:CBU) Announces Earnings Results

Key Points

• Community Financial System (NYSE:CBU) reported a quarterly EPS of $1.04, exceeding analysts' expectations of $1.03.
• The company's upcoming quarterly dividend of $0.47 per share represents an annualized yield of 3.4%, with a payout ratio of 51.23%.
• Recent analyst ratings show a mix of outlooks with some upgrading to a "hold" rating while one analyst maintains a "strong buy" rating, reflecting a consensus target price of $68.00.

Community Financial System (NYSE:CBU - Get Free Report) posted its quarterly earnings data on Tuesday. The bank reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.01, Zacks reports. Community Financial System had a net margin of 19.91% and a return on equity of 10.71%.

Community Financial System Stock Performance

NYSE:CBU opened at $56.05 on Tuesday. The firm has a 50 day simple moving average of $58.75 and a 200-day simple moving average of $56.75. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $2.96 billion, a PE ratio of 15.27 and a beta of 0.77. Community Financial System has a 1-year low of $49.44 and a 1-year high of $73.39.

Community Financial System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, December 12th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, December 12th. Community Financial System's payout ratio is currently 51.23%.

Analyst Upgrades and Downgrades

CBU has been the topic of several recent research reports. Wall Street Zen raised shares of Community Financial System from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Community Financial System in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Community Financial System from $69.00 to $67.00 and set a "market perform" rating on the stock in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Buying and Selling at Community Financial System

In other news, SVP Jeffrey M. Levy sold 1,440 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $61.38, for a total value of $88,387.20. Following the completion of the transaction, the senior vice president owned 6,657 shares of the company's stock, valued at $408,606.66. The trade was a 17.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Community Financial System

A number of institutional investors have recently modified their holdings of CBU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Community Financial System by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank's stock worth $1,771,000 after purchasing an additional 1,362 shares during the last quarter. Intech Investment Management LLC increased its position in Community Financial System by 37.5% during the first 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 during the last quarter. Lazard Asset Management LLC increased its position in Community Financial System by 1.0% during the second quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank's stock worth $1,164,000 after purchasing an additional 201 shares during the last quarter. MML Investors Services LLC increased its position in Community Financial System by 8.7% during the second quarter. MML Investors Services LLC now owns 17,651 shares of the bank's stock worth $1,004,000 after purchasing an additional 1,414 shares during the last quarter. Finally, Occudo Quantitative Strategies LP increased its position in Community Financial System by 39.1% during the second quarter. Occudo Quantitative Strategies LP now owns 13,385 shares of the bank's stock worth $761,000 after purchasing an additional 3,763 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

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.

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