Community Bank System Inc. (NYSE:CBU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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

CBU has been the subject of a number of other research reports. Sandler O’Neill cut Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Hovde Group boosted their price objective on Community Bank System from $38.00 to $43.00 and gave the company a “market perform” rating in a research note on Tuesday, July 26th. Five analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $41.50.

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Community Bank System (NYSE:CBU) traded up 0.43% during mid-day trading on Tuesday, hitting $46.77. 79,514 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $46.04 and its 200-day moving average price is $41.55. Community Bank System has a one year low of $34.27 and a one year high of $48.19. The stock has a market cap of $2.07 billion, a PE ratio of 21.24 and a beta of 0.98.

Community Bank System (NYSE:CBU) last posted its earnings results on Wednesday, July 20th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm earned $107.10 million during the quarter, compared to analysts’ expectations of $106.66 million. Community Bank System had a return on equity of 8.64% and a net margin of 22.93%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, analysts forecast that Community Bank System will post $2.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.74%. This is a boost from Community Bank System’s previous quarterly dividend of $0.31. Community Bank System’s payout ratio is currently 58.18%.

In other news, Director Nicholas A. Dicerbo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $43.75, for a total value of $87,500.00. Following the transaction, the director now owns 200,921 shares of the company’s stock, valued at $8,790,293.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian R. Ace sold 3,817 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $43.40, for a total value of $165,657.80. Following the completion of the transaction, the director now directly owns 50,275 shares in the company, valued at approximately $2,181,935. The disclosure for this sale can be found here. 3.48% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Community Bank System during the fourth quarter worth about $10,453,000. Public Employees Retirement Association of Colorado raised its position in Community Bank System by 90.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 423,867 shares of the company’s stock worth $17,417,000 after buying an additional 201,500 shares during the last quarter. Vanguard Group Inc. raised its position in Community Bank System by 4.7% in the second quarter. Vanguard Group Inc. now owns 3,740,977 shares of the company’s stock worth $153,717,000 after buying an additional 168,833 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Community Bank System during the second quarter worth about $4,985,000. Finally, Dimensional Fund Advisors LP raised its position in Community Bank System by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,909,096 shares of the company’s stock worth $78,443,000 after buying an additional 108,621 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

About Community Bank System

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.

5 Day Chart for NYSE:CBU

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