Keefe, Bruyette & Woods Cuts Community Financial System (NYSE:CBU) Price Target to $67.00

Community Financial System (NYSE:CBU - Get Free Report) had its price target reduced by equities research 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 points to a potential upside of 23.09% from the company's previous close.

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

Community Financial System Stock Down 1.7%

NYSE CBU traded down $0.96 during trading hours on Wednesday, reaching $54.43. 239,536 shares of the company's stock traded hands, compared to its average volume of 256,121. Community Financial System has a 52-week low of $49.44 and a 52-week high of $73.39. 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 50-day simple moving average of $56.88 and a 200 day simple moving average of $58.46. The firm has a market cap of $2.88 billion, a PE ratio of 14.83 and a beta of 0.78.

Community Financial System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.06). The company had revenue of $199.30 million for the quarter, compared to analysts' expectations of $201.93 million. Community Financial System had a net margin of 19.91% and a return on equity of 10.71%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. Sell-side analysts anticipate that Community Financial System will post 4.18 EPS for the current fiscal year.

Institutional Trading of Community Financial System

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in Community Financial System by 2.9% during the first quarter. Principal Financial Group Inc. now owns 262,245 shares of the bank's stock valued at $14,911,000 after purchasing an additional 7,376 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Community Financial System by 7.4% in 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 holdings in shares of Community Financial System by 19.8% in the first quarter. KBC Group NV now owns 2,798 shares of the bank's stock worth $159,000 after acquiring an additional 463 shares during the period. Raymond James Financial Inc. purchased a new stake in Community Financial System during the fourth quarter valued at $687,000. Finally, Norges Bank bought a new position in Community Financial System in the fourth quarter valued at about $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.