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

Key Points

• Wall Street Zen upgraded Community Financial System (NYSE: CBU) from “sell” to “hold”, adding to a mixed but generally cautious analyst picture for the stock.
• The company recently reported better-than-expected quarterly earnings of $1.15 per share versus $1.10 expected, while revenue rose 8.7% year over year to $213.69 million.
• Shares were trading around $67.09, near the stock’s 52-week high of $71.11, and the consensus analyst view remains “Moderate Buy” with a target price of $69.75.

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 note issued to investors on Saturday.

Other research analysts have also issued reports about the stock. Raymond James Financial restated 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 raised Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 2nd. Finally, Piper Sandler boosted their target price on Community Financial System from $62.00 to $66.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.75.

Community Financial System Price Performance

Shares of NYSE CBU opened at $67.09 on Friday. The stock has a fifty day moving average of $65.38 and a 200-day moving average of $62.95. The stock has a market cap of $3.53 billion, a PE ratio of 16.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System has a fifty-two week low of $51.12 and a fifty-two week high of $71.11.

Community Financial System (NYSE:CBU - Get Free Report) last issued its earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The business had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. During the same quarter last year, the company earned $0.98 EPS. The firm's revenue was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that Community Financial System will post 4.7 earnings per share for the current year.

Insider Buying and Selling at Community Financial System

In related news, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction 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 transaction, the director 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction dated Monday, June 8th. The stock was 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 approximately $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 currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Community Financial System by 38.4% in the 2nd quarter. GAMMA Investing LLC now owns 541 shares of the bank's stock worth $36,000 after acquiring an additional 150 shares during the last quarter. California State Teachers Retirement System raised its position in Community Financial System by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 48,580 shares of the bank's stock worth $2,763,000 after purchasing an additional 191 shares during the period. Lazard Asset Management LLC raised its position in Community Financial System by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank's stock worth $1,164,000 after purchasing an additional 201 shares during the period. Truist Financial Corp lifted its stake in Community Financial System by 1.8% in the fourth quarter. Truist Financial Corp now owns 12,205 shares of the bank's stock worth $701,000 after purchasing an additional 215 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Community Financial System by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank's stock worth $577,000 after purchasing an additional 231 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

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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