Zacks Investment Research upgraded shares of Community Bank System (NYSE:CBU) from a sell rating to a hold rating in a research report released on Wednesday, Zacks.com reports.
According to Zacks, “Community Bank System, Inc. is a bank holding company. “
Separately, ValuEngine downgraded Community Bank System from a buy rating to a hold rating in a research note on Thursday, August 1st.
NYSE CBU opened at $59.97 on Wednesday. Community Bank System has a 1-year low of $54.46 and a 1-year high of $67.79. The company has a market capitalization of $3.17 billion, a P/E ratio of 17.80, a PEG ratio of 2.37 and a beta of 0.98. The business has a 50 day moving average price of $63.66 and a 200 day moving average price of $63.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81.
Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Community Bank System had a return on equity of 10.10% and a net margin of 28.64%. The firm had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.08 million. During the same period last year, the business posted $0.86 EPS. Community Bank System’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Community Bank System will post 3.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a dividend of $0.41 per share. This is an increase from Community Bank System’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, September 13th. This represents a $1.64 annualized dividend and a yield of 2.73%. Community Bank System’s dividend payout ratio (DPR) is presently 45.10%.
In other Community Bank System news, Director Brian R. Ace sold 4,471 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $65.78, for a total transaction of $294,102.38. Following the completion of the transaction, the director now owns 61,910 shares of the company’s stock, valued at $4,072,439.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.15% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CBU. Nuveen Asset Management LLC purchased a new position in Community Bank System during the second quarter worth $13,606,000. Balyasny Asset Management LLC increased its position in Community Bank System by 1,601.4% during the second quarter. Balyasny Asset Management LLC now owns 206,378 shares of the bank’s stock worth $13,588,000 after buying an additional 194,248 shares in the last quarter. Morgan Stanley increased its position in Community Bank System by 120.7% during the second quarter. Morgan Stanley now owns 326,024 shares of the bank’s stock worth $21,465,000 after buying an additional 178,280 shares in the last quarter. BlackRock Inc. increased its position in Community Bank System by 1.1% during the second quarter. BlackRock Inc. now owns 7,622,990 shares of the bank’s stock worth $501,897,000 after buying an additional 81,588 shares in the last quarter. Finally, Ellis Investment Partners LLC purchased a new position in Community Bank System during the first quarter worth $58,000. 71.61% of the stock is owned by institutional investors.
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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