Community Financial System (NYSE:CBU) Hits New 52-Week High - Should You Buy?

Key Points

• Community Financial System (NYSE: CBU) hit a new 52-week high, trading as high as $68.77, reflecting recent upward momentum in the stock.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus with an average price target of $69.75, while Raymond James reiterated a $75 target and Piper Sandler raised its target to $66.
• The company reported strong quarterly results, beating EPS estimates at $1.15 per share and increasing revenue 8.7% year over year, and it also announced a quarterly dividend of $0.47 per share.

Community Financial System, Inc. (NYSE:CBU - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $68.77 and last traded at $68.5960, with a volume of 53838 shares. The stock had previously closed at $67.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Community Financial System from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 17th. Wall Street Zen raised Community Financial System from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Piper Sandler lifted their price objective on Community Financial System from $62.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.75.

Community Financial System Stock Up 1.9%

The firm has a market cap of $3.59 billion, a P/E ratio of 16.60 and a beta of 0.78. The company has a fifty day simple moving average of $63.66 and a 200-day simple moving average of $61.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22.

Community Financial System (NYSE:CBU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $216.36 million. During the same period in the previous year, the firm earned $0.98 earnings per share. Community Financial System's quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Community Financial System, Inc. will post 4.74 earnings per share for the current year.

Community Financial System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. Community Financial System's dividend payout ratio (DPR) is 45.63%.

Insider Activity

In other Community Financial System news, Director Mark J. Bolus sold 12,191 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total transaction of $816,797.00. Following the completion of the sale, the director owned 94,060 shares in the company, valued at $6,302,020. This trade represents a 11.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $63.98, for a total value of $127,960.00. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Community Financial System

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in Community Financial System by 0.4% in the second quarter. California State Teachers Retirement System now owns 48,580 shares of the bank's stock worth $2,763,000 after buying an additional 191 shares during the last quarter. Lazard Asset Management LLC raised its position in Community Financial System by 1.0% in 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 in the last quarter. Truist Financial Corp increased its position in shares of Community Financial System by 1.8% during the 4th quarter. Truist Financial Corp now owns 12,205 shares of the bank's stock worth $701,000 after purchasing an additional 215 shares in the last quarter. Corient Private Wealth LLC raised its position in Community Financial System by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank's stock worth $577,000 after purchasing an additional 231 shares during the last quarter. 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 valued at $5,246,000 after acquiring an additional 243 shares during the period. 73.79% of the stock is owned by institutional investors and hedge funds.

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.

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