Community Bank System Inc. (NYSE:CBU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Community Bank System, Inc. is a bank holding company. “
A number of other equities analysts also recently commented on CBU. Hovde Group boosted their target price on shares of Community Bank System from $38.00 to $43.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 26th. Sandler O’Neill downgraded shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $41.50.
Community Bank System (NYSE:CBU) traded up 1.15% during midday trading on Tuesday, hitting $47.41. The stock had a trading volume of 110,864 shares. The stock has a 50 day moving average of $46.47 and a 200 day moving average of $41.87. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 21.53 and a beta of 0.98. Community Bank System has a 12 month low of $34.27 and a 12 month high of $48.19.
Community Bank System (NYSE:CBU) last issued its earnings results on Wednesday, July 20th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm earned $107.10 million during the quarter, compared to the consensus estimate of $106.66 million. Community Bank System had a net margin of 22.93% and a return on equity of 8.64%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Analysts expect that Community Bank System will post $2.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, September 13th. This is an increase from Community Bank System’s previous quarterly dividend of $0.31. Community Bank System’s dividend payout ratio is currently 58.18%.
In other news, Director Brian R. Ace sold 3,817 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $43.40, for a total value of $165,657.80. Following the completion of the sale, the director now directly owns 50,275 shares of the company’s stock, valued at $2,181,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas A. Dicerbo sold 2,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $43.75, for a total transaction of $87,500.00. Following the completion of the sale, the director now directly owns 200,921 shares of the company’s stock, valued at $8,790,293.75. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Community Bank System during the first quarter worth approximately $346,000. Legal & General Group Plc boosted its stake in shares of Community Bank System by 8.5% in the first quarter. Legal & General Group Plc now owns 9,019 shares of the company’s stock worth $346,000 after buying an additional 710 shares during the last quarter. UBS Group AG boosted its stake in shares of Community Bank System by 25.0% in the first quarter. UBS Group AG now owns 21,366 shares of the company’s stock worth $816,000 after buying an additional 4,272 shares during the last quarter. Huntington Asset Advisors Inc. acquired a new stake in shares of Community Bank System during the first quarter worth approximately $810,000. Finally, C M Bidwell & Associates Ltd. boosted its stake in shares of Community Bank System by 1.0% in the first quarter. C M Bidwell & Associates Ltd. now owns 4,515 shares of the company’s stock worth $173,000 after buying an additional 45 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.
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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