Community Bank System’s (CBU) Hold Rating Reaffirmed at Boenning Scattergood

Community Bank System (NYSE:CBU)‘s stock had its “hold” rating restated by investment analysts at Boenning Scattergood in a research note issued to investors on Monday.

A number of other research firms have also recently commented on CBU. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, October 25th. DA Davidson set a $55.00 target price on shares of Community Bank System and gave the stock a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “hold” rating and set a $54.00 target price on shares of Community Bank System in a research report on Friday, October 13th. Finally, Sandler O’Neill raised shares of Community Bank System from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. Community Bank System currently has an average rating of “Hold” and an average target price of $55.80.

Community Bank System (NYSE:CBU) traded up $0.84 during midday trading on Monday, hitting $55.39. 262,400 shares of the stock were exchanged, compared to its average volume of 221,046. Community Bank System has a twelve month low of $48.89 and a twelve month high of $62.59. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2,803.24, a PE ratio of 25.29, a P/E/G ratio of 1.91 and a beta of 1.08.

Community Bank System (NYSE:CBU) last posted its earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The business had revenue of $137.30 million for the quarter, compared to analysts’ expectations of $138.74 million. During the same period in the previous year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. equities analysts forecast that Community Bank System will post 2.6 earnings per share for the current fiscal year.

In related news, Director Nicholas A. Dicerbo sold 2,000 shares of the company’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 directly owns 184,622 shares of the company’s stock, valued at $10,338,832. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Kallet Michael sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were 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 $231,327.14. The disclosure for this sale can be found here. Insiders sold 15,440 shares of company stock worth $862,488 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Community Bank System in the third quarter valued at $151,000. Riverhead Capital Management LLC increased its stake in Community Bank System by 104.4% during the second quarter. Riverhead Capital Management LLC now owns 2,862 shares of the bank’s stock valued at $160,000 after purchasing an additional 1,462 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Community Bank System during the third quarter valued at $204,000. Ameritas Investment Partners Inc. increased its stake in Community Bank System by 15.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the bank’s stock valued at $240,000 after purchasing an additional 592 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Community Bank System by 8.9% during the second quarter. Franklin Resources Inc. now owns 4,354 shares of the bank’s stock valued at $243,000 after purchasing an additional 354 shares during the last quarter. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Community Bank System (NYSE:CBU)

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