Community Bank System (CBU) Lowered to Hold at Zacks Investment Research

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

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

Other equities research analysts also recently issued reports about the stock. Sandler O’Neill raised shares of Community Bank System from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. 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. Boenning Scattergood reissued a “hold” rating on shares of Community Bank System in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 target price on shares of Community Bank System in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Community Bank System has an average rating of “Hold” and an average target price of $56.60.

Community Bank System (CBU) traded up $0.20 on Tuesday, reaching $52.90. 162,237 shares of the company’s stock traded hands, compared to its average volume of 286,765. Community Bank System has a 12-month low of $48.89 and a 12-month high of $61.25. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2,654.44, a P/E ratio of 17.63, a P/E/G ratio of 1.75 and a beta of 1.02.

Community Bank System (NYSE:CBU) last posted its earnings results on Monday, January 22nd. The bank reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The company had revenue of $139.90 million during the quarter, compared to the consensus estimate of $138.09 million. Community Bank System had a net margin of 28.34% and a return on equity of 9.18%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. analysts forecast that Community Bank System will post 3 earnings per share for the current fiscal year.

In related news, Director R Kallet Michael sold 7,500 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $56.38, for a total transaction of $422,850.00. Following the transaction, the director now directly owns 4,103 shares in the company, valued at $231,327.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian D. Donahue sold 5,535 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $55.19, for a total transaction of $305,476.65. Following the transaction, the executive vice president now owns 43,844 shares in the company, valued at $2,419,750.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,440 shares of company stock valued at $862,488. 3.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Community Bank System during the third quarter worth about $151,000. CIBC Asset Management Inc purchased a new position in Community Bank System during the third quarter worth about $204,000. Ameritas Investment Partners Inc. boosted its holdings 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 worth $240,000 after purchasing an additional 592 shares during the last quarter. Shelton Capital Management purchased a new position in Community Bank System during the second quarter worth about $247,000. Finally, Empire Life Investments Inc. boosted its holdings in Community Bank System by 17.9% during the third quarter. Empire Life Investments Inc. now owns 7,541 shares of the bank’s stock worth $417,000 after purchasing an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company’s stock.

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Community Bank System Company Profile

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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