Community Financial System (NYSE:CBU) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Community Financial System shares crossed above their 200-day moving average, reaching $64.07 before last trading at $63.35. The stock’s 200-day average is $62.85.
• Analysts maintain a generally positive but cautious view, with an overall “Moderate Buy” rating and an average price target of $69.25; several firms recently reduced their targets.
• The company reported quarterly EPS of $1.27, beating estimates by $0.08, while revenue rose 9.8% year over year to $230.21 million. It also declared a quarterly dividend of $0.49 per share, implying a 3.1% yield.

Community Financial System, Inc. (NYSE:CBU - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $62.85 and traded as high as $64.07. Community Financial System shares last traded at $63.3510, with a volume of 251,425 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CBU shares. Wall Street Zen raised Community Financial System from a "sell" rating to a "hold" rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods decreased their price objective 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 dropped their price objective on Community Financial System from $71.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, October 6th. DA Davidson dropped their price objective on Community Financial System from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, October 12th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Community Financial System in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.25.

Community Financial System Stock Performance

The stock has a fifty day simple moving average of $61.57 and a 200-day simple moving average of $62.85. The stock has a market cap of $3.33 billion, a P/E ratio of 14.30 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.77 and a current ratio of 0.77.

Community Financial System (NYSE:CBU - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.08. The firm had revenue of $230.21 million for the quarter, compared to the consensus estimate of $227.15 million. Community Financial System had a return on equity of 11.78% and a net margin of 22.05%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. On average, equities analysts expect that Community Financial System, Inc. will post 4.60 earnings per share for the current year.

Community Financial System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, December 15th. Community Financial System's dividend payout ratio (DPR) is currently 45.48%.

Insider Activity

In other Community Financial System news, Director Brenda M. Hall acquired 476 shares of the business's stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $63.59 per share, with a total value of $30,268.84. Following the completion of the transaction, the director directly owned 515 shares in the company, valued at $32,748.85. This trade represents a 1,220.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its stake in Community Financial System by 1,915.3% in the third quarter. ProShare Advisors LLC now owns 153,729 shares of the bank's stock valued at $9,153,000 after purchasing an additional 146,101 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Community Financial System by 5.5% during the 3rd quarter. Inspire Investing LLC now owns 10,727 shares of the bank's stock worth $639,000 after purchasing an additional 560 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Community Financial System by 17.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,623 shares of the bank's stock worth $216,000 after purchasing an additional 535 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Community Financial System by 8.2% in the 3rd quarter. Moody National Bank Trust Division now owns 22,224 shares of the bank's stock valued at $1,323,000 after buying an additional 1,677 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Community Financial System in the 3rd quarter valued at approximately $71,000. Institutional investors own 73.79% of the company's stock.

Community Financial System Company Profile

Community Financial System, Inc NYSE: CBU is a diversified financial services company headquartered in DeWitt, New York. Formerly known as Community Bank System, Inc, the company traces its banking history to 1866 and operates through Community Bank, N.A., along with other financial services businesses.

Its banking operations provide consumer and commercial deposit accounts, residential and commercial lending, agricultural financing, municipal banking, cash management, and other financial products.

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