Community Financial System (NYSE:CBU) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Community Financial System (NYSE: CBU) has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, indicating a more favorable outlook on the stock.
• The company recently reported earnings of $0.97 per share, missing the consensus estimate of $1.03, while quarterly revenue was also below expectations at $199.3 million.
• Community Financial System has institutional investors owning approximately 73.79% of its stock, signaling significant interest from larger financial entities.

Community Financial System (NYSE:CBU - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other equities analysts also recently commented on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Community Financial System in a research report on Wednesday. Keefe, Bruyette & Woods lowered their target price on shares of Community Financial System from $69.00 to $67.00 and set a "market perform" rating for the company in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Community Financial System Stock Performance

Community Financial System stock opened at $55.31 on Friday. 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 market capitalization of $2.92 billion, a P/E ratio of 15.07 and a beta of 0.77. Community Financial System has a 1-year low of $49.44 and a 1-year high of $73.39. The company's 50-day moving average is $58.41 and its 200 day moving average is $56.73.

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

Insider Activity

In other news, SVP Jeffrey M. Levy sold 1,440 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $61.38, for a total transaction of $88,387.20. Following the transaction, the senior vice president owned 6,657 shares of the company's stock, valued at approximately $408,606.66. This represents a 17.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.01% of the company's stock.

Hedge Funds Weigh In On Community Financial System

A number of hedge funds and other institutional investors have recently made changes to their positions in CBU. GAMMA Investing LLC grew its position in shares of Community Financial System by 14,655.4% during the 1st quarter. GAMMA Investing LLC now owns 17,854 shares of the bank's stock worth $1,015,000 after buying an additional 17,733 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Community Financial System by 18.0% during the 1st quarter. Park Avenue Securities LLC now owns 4,320 shares of the bank's stock worth $246,000 after buying an additional 660 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Community Financial System during the 1st quarter worth $1,147,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Community Financial System by 6.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 55,815 shares of the bank's stock worth $3,174,000 after buying an additional 3,294 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Community Financial System by 12.5% during the 1st quarter. QRG Capital Management Inc. now owns 6,563 shares of the bank's stock worth $373,000 after buying an additional 729 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.