Community Financial System (NYSE:CBU) Price Target Cut to $68.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut Community Financial System’s price target to $68 from $70 while maintaining a “market perform” rating, implying approximately 5.46% upside. The stock has a consensus “Moderate Buy” rating and an average target of $70.25.
• Community Financial System reported quarterly earnings of $1.16 per share, narrowly missing the $1.18 consensus estimate, while revenue of $218.45 million also fell short of expectations. Revenue nevertheless increased 12% year over year.
• CBU shares opened at $64.48, with a market capitalization of approximately $3.39 billion and a 52-week range of $51.12 to $71.11; institutional investors own 73.79% of the stock.

Community Financial System (NYSE:CBU - Get Free Report) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $70.00 to $68.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 5.46% from the stock's current price.

CBU has been the subject of several other reports. Piper Sandler lifted their price objective on Community Financial System from $62.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Community Financial System from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 price target on shares of Community Financial System in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 2nd. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.25.

Community Financial System Trading Down 0.4%

CBU opened at $64.48 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.76 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average is $65.52 and its two-hundred day moving average is $63.08. The company has a market capitalization of $3.39 billion, a P/E ratio of 14.96 and a beta of 0.77. Community Financial System has a 52 week low of $51.12 and a 52 week high of $71.11.

Community Financial System (NYSE:CBU - Get Free Report) last issued its earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.02). Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The firm had revenue of $218.45 million during the quarter, compared to analysts' expectations of $221.77 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. Community Financial System's quarterly revenue was up 12.0% compared to the same quarter last year. Analysts forecast that Community Financial System will post 4.7 earnings per share for the current year.

Insider Transactions at Community Financial System

In related news, Director Mark J. Bolus sold 12,191 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total transaction of $816,797.00. Following the sale, the director owned 94,060 shares of the company's stock, valued at $6,302,020. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Stickels sold 2,000 shares of Community Financial System 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 transaction, the director owned 31,592 shares in the company, valued at $2,021,256.16. This trade represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Community Financial System by 507.0% during the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank's stock worth $30,000 after purchasing an additional 436 shares during the period. GAMMA Investing LLC lifted its position in Community Financial System by 38.4% in the second quarter. GAMMA Investing LLC now owns 541 shares of the bank's stock valued at $36,000 after buying an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank's stock worth $44,000 after buying an additional 499 shares during the period. Lipe & Dalton acquired a new stake in shares of Community Financial System during the fourth quarter valued at about $52,000. Finally, Strs Ohio purchased a new stake in shares of Community Financial System in the 1st quarter valued at approximately $102,000. Institutional investors 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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