Insider Buying: Community Financial System (NYSE:CBU) Director Buys 476 Shares of Stock

Key Points

• Director Brenda Hall purchased 476 CBU shares at an average price of $63.59, investing approximately $30,269 and increasing her holdings by 1,220.51% to 515 shares.
• Community Financial System shares rose 0.6% to $63.32, while the company’s latest quarterly results slightly missed analyst expectations with EPS of $1.16 versus $1.18 and revenue of $218.45 million versus $221.77 million.
• The company raised its quarterly dividend to $0.49 per share, equivalent to a $1.96 annualized payout and a 3.1% yield; analysts’ consensus rating is “Moderate Buy” with a $71.50 price target.

Community Financial System, Inc. (NYSE:CBU - Get Free Report) Director Brenda Hall acquired 476 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average price of $63.59 per share, with a total value of $30,268.84. Following the transaction, the director owned 515 shares in the company, valued at $32,748.85. This represents a 1,220.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Community Financial System Trading Up 0.6%

NYSE:CBU traded up $0.39 on Wednesday, reaching $63.32. The stock had a trading volume of 64,712 shares, compared to its average volume of 261,683. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 14.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.77 and a quick ratio of 0.77. The firm's fifty day moving average is $65.85 and its two-hundred day moving average is $63.40. Community Financial System, Inc. has a 12-month low of $53.46 and a 12-month high of $71.11.

Community Financial System (NYSE:CBU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.02). The firm had revenue of $218.45 million for the quarter, compared to analysts' expectations of $221.77 million. Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. Equities analysts expect that Community Financial System, Inc. will post 4.58 EPS for the current fiscal year.

Community Financial System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Community Financial System's previous quarterly dividend of $0.47. Community Financial System's dividend payout ratio is presently 43.62%.

Analysts Set New Price Targets

CBU has been the topic of a number of recent analyst reports. Raymond James Financial reissued a "strong-buy" rating and set a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. Keefe, Bruyette & Woods dropped their target price on Community Financial System from $70.00 to $68.00 and set a "market perform" rating for the company in a research note on Thursday, July 30th. Piper Sandler increased their target price on Community Financial System from $66.00 to $71.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. 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, Wall Street Zen upgraded Community Financial System from a "sell" rating to a "hold" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Community Financial System presently has an average rating of "Moderate Buy" and a consensus price target of $71.50.

Institutional Trading of Community Financial System

A number of institutional investors and hedge funds have recently made changes to their positions in CBU. IFP Advisors Inc boosted its holdings in Community Financial System by 507.0% in the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank's stock valued at $30,000 after acquiring an additional 436 shares during the last quarter. GAMMA Investing LLC increased its stake in Community Financial System by 38.4% during the second 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. Nykredit A S acquired a new stake in Community Financial System during the second quarter worth about $38,000. Public Employees Retirement System of Ohio purchased a new position in shares of Community Financial System in the 2nd quarter worth about $44,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Community Financial System by 177.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank's stock worth $44,000 after purchasing an additional 499 shares during the period. 73.79% of the stock is currently owned by institutional investors and hedge funds.

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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