Community Bank System, Inc. (CBU) Receives Average Recommendation of “Hold” from Brokerages
Community Bank System, Inc. (NYSE:CBU) has been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $53.33.
Several analysts have issued reports on the company. BidaskClub lowered Community Bank System from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research lowered Community Bank System from a “strong-buy” rating to a “hold” rating in a report on Monday, October 2nd. 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. DA Davidson set a $55.00 price target on Community Bank System and gave the company a “hold” rating in a report on Tuesday, October 24th. They noted that the move was a valuation call. Finally, 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.
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In other news, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total value of $265,000.00. Following the completion of the transaction, the director now owns 11,603 shares of the company’s stock, valued at $614,959. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian R. Ace sold 5,457 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total value of $291,130.95. Following the completion of the transaction, the director now directly owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,457 shares of company stock valued at $1,085,081. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBU. LS Investment Advisors LLC boosted its stake in shares of Community Bank System by 8.2% in the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after acquiring an additional 137 shares during the period. Cutler Group LP boosted its stake in shares of Community Bank System by 118.7% in the second quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after acquiring an additional 12,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Community Bank System by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the bank’s stock worth $116,000 after acquiring an additional 174 shares during the period. Pacad Investment Ltd. bought a new position in shares of Community Bank System in the second quarter worth about $139,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of Community Bank System by 104.4% in the second quarter. Riverhead Capital Management LLC now owns 2,862 shares of the bank’s stock worth $160,000 after acquiring an additional 1,462 shares during the period. 68.96% of the stock is owned by hedge funds and other institutional investors.
Community Bank System (CBU) opened at 54.55 on Friday. The company has a market cap of $2.76 billion, a P/E ratio of 26.09 and a beta of 1.10. The firm has a 50-day moving average price of $54.12 and a 200 day moving average price of $54.56. Community Bank System has a 52 week low of $45.79 and a 52 week high of $63.04.
Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The business had revenue of $137.30 million during the quarter, compared to analyst estimates of $138.74 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. Community Bank System’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts expect that Community Bank System will post $2.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were paid a $0.34 dividend. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.49%. Community Bank System’s dividend payout ratio is 62.10%.
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.
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