Community Bank System, Inc. (CBU) Downgraded by Zacks Investment Research to Hold

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 on Thursday.

According to Zacks, “Community Bank System, Inc. is a bank holding company. “

Other analysts also recently issued reports about the stock. Piper Jaffray Companies reissued a “hold” rating and set a $51.00 price target on shares of Community Bank System in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating on shares of Community Bank System in a report on Wednesday, August 2nd. DA Davidson set a $55.00 price target on shares of Community Bank System and gave the stock a “hold” rating in a report on Tuesday. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “hold” rating and set a $54.00 price target on shares of Community Bank System in a report on Friday, October 13th. Finally, BidaskClub raised shares of Community Bank System from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $55.20.

Shares of Community Bank System (NYSE CBU) traded up 0.39% on Thursday, hitting $54.46. 269,254 shares of the stock traded hands. The company has a market cap of $2.75 billion, a PE ratio of 26.04 and a beta of 1.10. Community Bank System has a one year low of $45.79 and a one year high of $63.04. The stock has a 50 day moving average of $53.86 and a 200 day moving average of $54.55.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. The business had revenue of $137.30 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. Equities analysts anticipate that Community Bank System will post $2.58 earnings per share for the current year.

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In other Community Bank System news, Director Eric Stickels sold 5,000 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $53.24, for a total transaction of $266,200.00. Following the transaction, the director now directly owns 11,345 shares of the company’s stock, valued at $604,007.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brian R. Ace sold 5,457 shares of the stock in a transaction 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 $2,968,767.45. The disclosure for this sale can be found here. Insiders have sold 20,457 shares of company stock worth $1,085,081 over the last three months. 3.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Crawford Investment Counsel Inc. purchased a new position in Community Bank System during the second quarter valued at $1,342,000. Comerica Bank lifted its holdings in Community Bank System by 4.6% during the second quarter. Comerica Bank now owns 51,559 shares of the bank’s stock valued at $2,812,000 after purchasing an additional 2,254 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Community Bank System by 15.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 40,059 shares of the bank’s stock valued at $2,234,000 after purchasing an additional 5,226 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Community Bank System by 14.1% during the second quarter. Principal Financial Group Inc. now owns 415,221 shares of the bank’s stock valued at $23,157,000 after purchasing an additional 51,281 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Community Bank System by 12.4% during the second quarter. Russell Investments Group Ltd. now owns 91,759 shares of the bank’s stock valued at $5,117,000 after purchasing an additional 10,156 shares in the last quarter. 68.96% 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.

Analyst Recommendations for Community Bank System (NYSE:CBU)

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