Community Bank System, Inc. (NYSE:CBU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, October 26th.
According to Zacks, “Community Bank System, Inc. is a bank holding company. “
Other equities analysts also recently issued research reports about the stock. Piper Jaffray Companies restated a “hold” rating and issued a $51.00 price target on shares of Community Bank System in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. DA Davidson set a $55.00 price objective on shares of Community Bank System and gave the stock a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $54.00 price target on shares of Community Bank System in a research report on Friday, October 13th. Finally, BidaskClub raised shares of Community Bank System from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $55.20.
Shares of Community Bank System (NYSE CBU) traded up $0.77 during trading on Thursday, reaching $52.15. 226,200 shares of the company were exchanged, compared to its average volume of 266,574. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72. Community Bank System has a 1 year low of $48.89 and a 1 year high of $63.04. The stock has a market cap of $2,640.00, a price-to-earnings ratio of 18.96, a PEG ratio of 1.97 and a beta of 1.09.
Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The firm had revenue of $137.30 million for the quarter, compared to analyst estimates of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. equities analysts anticipate that Community Bank System will post 2.61 EPS for the current fiscal year.
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In related news, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, the director now owns 11,603 shares of the company’s stock, valued at $614,959. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian R. Ace sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total transaction of $291,130.95. Following the transaction, the director now directly owns 55,647 shares in the company, valued at approximately $2,968,767.45. The disclosure for this sale can be found here. Insiders sold 20,457 shares of company stock worth $1,085,081 over the last quarter. Company insiders own 3.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in Community Bank System by 8.2% during the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after purchasing an additional 137 shares during the period. Cutler Group LP raised its stake in Community Bank System by 118.7% during the second quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after purchasing an additional 12,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Community Bank System by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the bank’s stock worth $116,000 after purchasing an additional 174 shares during the period. Pacad Investment Ltd. purchased a new position in Community Bank System during the second quarter worth approximately $139,000. Finally, SG Americas Securities LLC purchased a new position in Community Bank System during the third quarter worth approximately $151,000. 69.08% of the stock is currently owned by institutional investors and hedge funds.
Community Bank System Company Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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