Community Financial System (NYSE:CBU) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Community Financial System (NYSE: CBU) moved above its 200-day moving average, trading as high as $67.77 and last changing hands near $67.65, signaling renewed short-term strength in the stock.
• Analyst sentiment is mixed but generally constructive: the stock carries a Moderate Buy consensus with a $69.75 target price, while recent reports included both a downgrade to sell and an upgrade to buy.
• The bank recently beat earnings estimates with $1.15 EPS for the quarter and also paid a quarterly dividend of $0.47 per share, reflecting a 2.8% annualized yield.

Community Financial System, Inc. (NYSE:CBU - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $62.37 and traded as high as $67.77. Community Financial System shares last traded at $67.6510, with a volume of 303,727 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CBU. Wall Street Zen lowered Community Financial System from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Weiss Ratings upgraded Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 2nd. Piper Sandler lifted their target price on Community Financial System from $62.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $75.00 target price on shares of Community Financial System in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Community Financial System presently has an average rating of "Moderate Buy" and a consensus target price of $69.75.

Community Financial System Price Performance

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22. The business's 50-day moving average is $64.42 and its two-hundred day moving average is $62.37. The company has a market capitalization of $3.56 billion, a P/E ratio of 16.42 and a beta of 0.77.

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 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 business had revenue of $213.69 million for the quarter, compared to analysts' expectations of $216.36 million. During the same period in the previous year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts predict that Community Financial System, Inc. will post 4.7 earnings per share for the current year.

Community Financial System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. Community Financial System's dividend payout ratio (DPR) is currently 45.63%.

Insider Buying and Selling

In other news, Director Mark J. Bolus sold 12,191 shares of the company'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 value of $816,797.00. Following the completion of the transaction, the director directly owned 94,060 shares of the company's stock, valued at $6,302,020. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $63.98, for a total value of $127,960.00. Following the sale, the director directly owned 31,592 shares of the company's stock, valued at $2,021,256.16. The trade was 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 insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. IFP Advisors Inc raised its stake 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 grew its position in Community Financial System by 38.4% during 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 period. EverSource Wealth Advisors LLC grew its position in Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank's stock valued at $44,000 after buying an additional 499 shares during the period. Lipe & Dalton purchased a new stake in Community Financial System during the fourth quarter worth about $52,000. Finally, Strs Ohio purchased a new stake in Community Financial System during the first quarter worth about $102,000. Institutional investors own 73.79% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.