Community Bank System (NYSE:CBU) was upgraded by stock analysts at Sandler O’Neill from a “sell” rating to a “hold” rating in a report issued on Thursday, The Fly reports.
Several other research analysts have also recently weighed in on CBU. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 price target on shares of Community Bank System in a report on Friday, October 13th. Zacks Investment Research cut shares of Community Bank System from a “strong-buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, DA Davidson set a $55.00 price target on shares of 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. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $55.20.
Community Bank System (NYSE:CBU) opened at $54.17 on Thursday. The firm has a market cap of $2,757.69, a P/E ratio of 20.11, a PEG ratio of 2.09 and a beta of 1.07. Community Bank System has a 1-year low of $48.89 and a 1-year high of $63.04. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.08.
In other news, Director Nicholas A. Dicerbo sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $56.00, for a total value of $112,000.00. Following the sale, the director now owns 184,622 shares of the company’s stock, valued at $10,338,832. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R Kallet Michael sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $56.38, for a total transaction of $422,850.00. Following the completion of the sale, the director now directly owns 4,103 shares in the company, valued at approximately $231,327.14. The disclosure for this sale can be found here. In the last three months, insiders sold 19,957 shares of company stock worth $1,092,181. 3.20% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 purchasing an additional 174 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of Community Bank System in the second quarter worth $139,000. SG Americas Securities LLC bought a new stake in shares of Community Bank System in the third quarter worth $151,000. Riverhead Capital Management LLC lifted its position 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 purchasing an additional 1,462 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Community Bank System by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,501 shares of the bank’s stock worth $195,000 after purchasing an additional 524 shares in the last quarter. 69.19% 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.
