Community Bank System, Inc. (CBU) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Community Bank System, Inc. (NYSE:CBU) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 25th. They currently have $60.00 price target on the bank’s stock.

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

A number of other equities research analysts also recently weighed in on the stock. Piper Jaffray Companies reissued a hold rating and set a $51.00 price target on shares of Community Bank System in a research note on Thursday, August 3rd. DA Davidson set a $55.00 price target on shares of Community Bank System and gave the stock a hold rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. BidaskClub downgraded shares of Community Bank System from a sell rating to a strong sell rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reissued a hold rating and set a $54.00 price target on shares of Community Bank System in a research note on Friday, October 13th. Finally, Royal Bank Of Canada reissued a hold rating on shares of Community Bank System in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $55.20.

Shares of Community Bank System (NYSE CBU) traded down $0.01 during midday trading on Wednesday, hitting $51.38. 140,300 shares of the company’s stock were exchanged, compared to its average volume of 311,490. Community Bank System has a one year low of $48.89 and a one year high of $63.04. The company has a market capitalization of $2,600.29, a P/E ratio of 18.96, a PEG ratio of 1.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.71 and a current ratio of 0.74.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. The business had revenue of $137.30 million during the quarter, compared to the consensus estimate of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. Community Bank System’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. research analysts expect that Community Bank System will post 2.61 earnings per share for the current year.

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In other Community Bank System news, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $52.55, for a total value of $262,750.00. Following the completion of the sale, the director now owns 16,603 shares of the company’s stock, valued at $872,487.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian R. Ace sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total transaction of $291,130.95. Following the completion of the sale, the director now directly owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The disclosure for this sale can be found here. Insiders sold 20,457 shares of company stock valued at $1,085,081 in the last ninety days. Insiders own 3.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Community Bank System by 11.2% in the second quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock valued at $336,527,000 after buying an additional 609,319 shares during the period. State Street Corp boosted its holdings in shares of Community Bank System by 69.6% in the second quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock valued at $280,008,000 after buying an additional 2,059,920 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Community Bank System by 7.9% in the second quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock valued at $268,165,000 after buying an additional 353,538 shares during the period. Northern Trust Corp boosted its holdings in shares of Community Bank System by 6.8% in the second quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock valued at $81,410,000 after buying an additional 92,700 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Community Bank System by 7.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,201,394 shares of the bank’s stock valued at $67,001,000 after buying an additional 84,015 shares during the period. Institutional investors own 69.08% of the company’s stock.

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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