Keefe, Bruyette & Woods Issues Pessimistic Forecast for Community Financial System (NYSE:CBU) Stock Price

Community Financial System (NYSE:CBU - Get Free Report) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $69.00 to $67.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 23.41% from the company's previous close.

Separately, Wall Street Zen upgraded Community Financial System from a "sell" rating to a "hold" rating in a report on Friday, May 16th.

Community Financial System Trading Down 0.3%

NYSE CBU traded down $0.17 on Wednesday, reaching $54.29. 301,911 shares of the company were exchanged, compared to its average volume of 261,259. Community Financial System has a fifty-two week low of $49.44 and a fifty-two week high of $73.39. The business's fifty day moving average price is $56.81 and its 200 day moving average price is $58.40. The stock has a market capitalization of $2.87 billion, a P/E ratio of 14.79 and a beta of 0.78. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Community Financial System (NYSE:CBU - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.06). The business had revenue of $199.30 million during the quarter, compared to analyst estimates of $201.93 million. Community Financial System had a net margin of 19.91% and a return on equity of 10.71%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. Analysts forecast that Community Financial System will post 4.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of Community Financial System by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 262,245 shares of the bank's stock valued at $14,911,000 after acquiring an additional 7,376 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Community Financial System by 7.4% during the 1st quarter. Teacher Retirement System of Texas now owns 26,478 shares of the bank's stock worth $1,506,000 after buying an additional 1,823 shares during the last quarter. KBC Group NV grew its stake in Community Financial System by 19.8% during the 1st quarter. KBC Group NV now owns 2,798 shares of the bank's stock worth $159,000 after buying an additional 463 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Community Financial System during the 4th quarter worth approximately $687,000. Finally, Norges Bank purchased a new position in Community Financial System during the 4th quarter worth approximately $34,779,000. Hedge funds and other institutional investors own 73.79% of the company's stock.

About Community Financial System

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.