Community Financial System (NYSE:CBU) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Community Financial System (NYSE:CBU) from hold to sell, even as other analysts recently maintained or improved their views on the stock.
• The company beat earnings expectations in its latest quarter, reporting $1.15 EPS versus the $1.10 consensus, though revenue of $213.69 million came in slightly below forecasts.
• Insiders sold shares in recent weeks, including Director Mark J. Bolus and Director Eric Stickels, while institutional investors continue to hold a large majority of the stock at 73.79%.

Community Financial System (NYSE:CBU - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently commented on the company. Weiss Ratings upgraded Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. Finally, Piper Sandler raised their price target on shares of Community Financial System from $62.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.75.

Community Financial System Price Performance

Shares of NYSE:CBU opened at $67.50 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. The business's fifty day moving average price is $63.96 and its two-hundred day moving average price is $62.07. The stock has a market cap of $3.55 billion, a PE ratio of 16.38 and a beta of 0.77. Community Financial System has a one year low of $51.12 and a one year high of $69.23.

Community Financial System (NYSE:CBU - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, topping 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 in the previous year, the firm posted $0.98 earnings per share. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts forecast that Community Financial System will post 4.7 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark J. Bolus sold 12,191 shares of Community Financial System stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the transaction, the director directly owned 94,060 shares of the company's stock, valued at $6,302,020. The trade was a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction that occurred 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 trade represents a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On Community Financial System

Large investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in shares of Community Financial System by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 48,580 shares of the bank's stock valued at $2,763,000 after acquiring an additional 191 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Community Financial System by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank's stock valued at $1,164,000 after purchasing an additional 201 shares in the last quarter. Truist Financial Corp raised its position in Community Financial System by 1.8% in the fourth quarter. Truist Financial Corp now owns 12,205 shares of the bank's stock valued at $701,000 after purchasing an additional 215 shares during the period. Corient Private Wealth LLC raised its position in Community Financial System by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank's stock valued at $577,000 after purchasing an additional 231 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Community Financial System by 0.3% during the second quarter. California Public Employees Retirement System now owns 92,254 shares of the bank's stock worth $5,246,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

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.

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