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.
WARNING: This story was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2017/10/26/community-bank-system-inc-cbu-downgraded-by-zacks-investment-research-to-hold.html.
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.
Receive News & Ratings for Community Bank System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.