Community Financial System (NYSE:CBU) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Community Financial System stock rose above its 200-day moving average, trading as high as $66.75 and last changing hands around $66.54. The move came with a 3% gain on the day and may signal improving technical momentum.
• Analyst sentiment is mixed but generally constructive, with the stock carrying a “Moderate Buy” consensus and an average price target of $69.75. Recent targets ranged from $66 to $75, while one firm downgraded the shares slightly.
• Recent fundamentals and shareholder returns were solid, as the company beat EPS estimates in its latest quarter and raised revenue 8.7% year over year. It also announced a quarterly dividend of $0.47 per share, implying a 2.8% annual yield.

Community Financial System, Inc. (NYSE:CBU - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $61.69 and traded as high as $66.75. Community Financial System shares last traded at $66.5370, with a volume of 543,357 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CBU. Piper Sandler raised their price target on Community Financial System from $62.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. DA Davidson initiated coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They set a "neutral" rating and a $72.00 price objective for the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Community Financial System from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of Community Financial System from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. One equities research 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. Based on data from MarketBeat.com, Community Financial System presently has an average rating of "Moderate Buy" and a consensus target price of $69.75.

Community Financial System Stock Up 3.0%

The firm has a 50-day simple moving average of $63.26 and a 200 day simple moving average of $61.69. The company has a market capitalization of $3.50 billion, a PE ratio of 16.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.77.

Community Financial System (NYSE:CBU - Get Free Report) last issued its 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. The company had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The company's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, research analysts predict that Community Financial System, Inc. will post 4.74 EPS for the current fiscal year.

Community Financial System Announces Dividend

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

Insider Activity

In other news, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the sale, the director owned 31,592 shares in the company, valued at $2,021,256.16. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Community Financial System

A number of large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Community Financial System by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank's stock worth $1,771,000 after buying an additional 1,362 shares during the period. Goldman Sachs Group Inc. boosted its position in Community Financial System by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank's stock valued at $31,308,000 after buying an additional 40,384 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Community Financial System by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank's stock valued at $7,768,000 after buying an additional 8,182 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Community Financial System by 523.4% during the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank's stock valued at $8,286,000 after acquiring an additional 122,343 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Community Financial System by 37.5% during the first quarter. Intech Investment Management LLC now owns 25,846 shares of the bank's stock valued at $1,470,000 after acquiring an additional 7,052 shares in the last quarter. 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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