Insider Selling: Community Financial System (NYSE:CBU) Director Sells 2,000 Shares of Stock

Key Points

• Director Eric Stickels sold 2,000 shares of Community Financial System at an average price of $63.98, totaling about $127,960. After the sale, he still owned 31,592 shares, a 5.95% reduction in his stake.
• The stock was trading higher on Wednesday, up 0.7% to $65.23, with a market cap of $3.43 billion and a 12-month range of $51.12 to $67.50.
• Community Financial System recently beat EPS estimates for the quarter, reporting $1.15 per share versus the $1.10 consensus, and it also declared a quarterly dividend of $0.47 per share, yielding about 2.9% annually.

Community Financial System, Inc. (NYSE:CBU - Get Free Report) Director Eric Stickels sold 2,000 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $63.98, for a total value of $127,960.00. Following the completion of the transaction, the director owned 31,592 shares in the company, valued at $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Community Financial System Trading Up 0.7%

Shares of NYSE:CBU traded up $0.46 during midday trading on Wednesday, hitting $65.23. The company had a trading volume of 65,358 shares, compared to its average volume of 239,928. Community Financial System, Inc. has a 12 month low of $51.12 and a 12 month high of $67.50. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 15.84 and a beta of 0.78. The firm has a fifty day simple moving average of $62.47 and a 200 day simple moving average of $61.18.

Community Financial System (NYSE:CBU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share (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 for the quarter, compared to analyst estimates of $216.36 million. During the same period last year, the company earned $0.98 EPS. The firm's revenue was up 8.7% on a year-over-year basis. On average, analysts predict that Community Financial System, Inc. will post 4.74 EPS for the current year.

Community Financial System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, June 15th. Community Financial System's dividend payout ratio (DPR) is currently 45.63%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CBU shares. DA Davidson started coverage on Community Financial System in a research report on Wednesday, February 25th. They issued a "neutral" rating and a $72.00 price target on the stock. Weiss Ratings upgraded Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 11th. Wall Street Zen raised Community Financial System from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. 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 report on Thursday, April 30th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Community Financial System presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.75.

Institutional Investors Weigh In On Community Financial System

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Community Financial System by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank's stock worth $106,647,000 after purchasing an additional 20,428 shares during the period. Norges Bank bought a new stake in shares of Community Financial System in the fourth quarter valued at about $38,993,000. Bank of America Corp DE lifted its holdings in shares of Community Financial System by 132.9% in the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank's stock valued at $37,310,000 after purchasing an additional 363,012 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Community Financial System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank's stock valued at $31,308,000 after purchasing an additional 40,384 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Community Financial System by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 541,428 shares of the bank's stock valued at $31,100,000 after purchasing an additional 16,990 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

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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