Community Financial System (NYSE:CBU) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

Community Financial System, Inc. (NYSE:CBU – Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $61.69 and traded as high as $66.75. Community Financial System shares last traded at $66.5370, with a volume of 543,357 shares changing hands.

Wall Street Analysts Forecast Growth

CBU has been the topic of a number of recent research reports. Weiss Ratings cut shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Piper Sandler raised their price objective on Community Financial System from $62.00 to $66.00 and gave the company 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 given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.75.

Get Our Latest Report on Community Financial System

Community Financial System Price Performance

The business has a fifty day moving average of $63.48 and a 200 day moving average of $61.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $3.55 billion, a PE ratio of 16.37 and a beta of 0.78.

Community Financial System (NYSE:CBU – Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $213.69 million for the quarter, compared to the consensus estimate of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.Community Financial System’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Sell-side analysts anticipate that Community Financial System, Inc. will post 4.74 earnings per share 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. Investors of record on Monday, June 15th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 annualized dividend and a yield of 2.8%. Community Financial System’s dividend payout ratio is currently 45.63%.

Insider Buying and Selling

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the transaction, the director directly owned 31,592 shares in the company, valued at $2,021,256.16. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Community Financial System

Several large investors have recently modified their holdings of CBU. IFP Advisors Inc increased 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 buying an additional 436 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after buying an additional 499 shares during the last quarter. Lipe & Dalton acquired a new position in shares of Community Financial System in the 4th quarter worth approximately $52,000. Strs Ohio bought a new stake in shares of Community Financial System in the 1st quarter valued at approximately $102,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Community Financial System during the 4th quarter valued at approximately $155,000. Institutional investors own 73.79% of the company’s stock.

Community Financial System Company Profile

(Get Free Report)

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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