Zacks Investment Research upgraded shares of Community Bank System (NYSE:CBU) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.
According to Zacks, “Community Bank System, Inc. is a bank holding company. “
Separately, ValuEngine downgraded shares of Community Bank System from a buy rating to a hold rating in a research report on Thursday, August 1st.
Shares of CBU stock opened at $61.75 on Wednesday. The firm has a 50 day moving average price of $64.19 and a two-hundred day moving average price of $63.39. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.11 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.33 and a beta of 0.98. Community Bank System has a 12-month low of $54.46 and a 12-month high of $67.79.
Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. The firm had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.08 million. Community Bank System had a net margin of 28.64% and a return on equity of 10.10%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. As a group, research analysts expect that Community Bank System will post 3.24 EPS for the current year.
In other news, Director R Kallet Michael sold 3,100 shares of Community Bank System stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $64.83, for a total value of $200,973.00. Following the completion of the sale, the director now directly owns 52,909 shares in the company, valued at $3,430,090.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brian R. Ace sold 4,471 shares of Community Bank System stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $65.78, for a total transaction of $294,102.38. Following the completion of the sale, the director now owns 61,910 shares of the company’s stock, valued at $4,072,439.80. The disclosure for this sale can be found here. Company insiders own 2.15% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBU. MidWestOne Financial Group Inc. acquired a new position in shares of Community Bank System during the second quarter worth $263,000. Nuveen Asset Management LLC acquired a new position in shares of Community Bank System during the second quarter worth $13,606,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Community Bank System by 8.3% during the second quarter. UBS Asset Management Americas Inc. now owns 41,176 shares of the bank’s stock worth $2,711,000 after purchasing an additional 3,150 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Community Bank System during the second quarter worth $222,000. Finally, Jefferies Group LLC acquired a new position in shares of Community Bank System during the second quarter worth $658,000. Institutional investors own 71.28% of the company’s stock.
About Community Bank System
Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.
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