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.
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.
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