Community Bank System Inc. (CBU) Stock Rating Upgraded by Zacks Investment Research
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 research analysts also recently issued reports on the company. Sandler O’Neill downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Hovde Group increased their price target on Community Bank System from $38.00 to $43.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $41.50.
Shares of Community Bank System (NYSE:CBU) opened at 47.97 on Tuesday. The company has a market cap of $2.12 billion, a P/E ratio of 21.78 and a beta of 0.98. Community Bank System has a 52-week low of $34.27 and a 52-week high of $48.19. The stock’s 50 day moving average price is $46.63 and its 200-day moving average price is $41.97.
Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. The business had revenue of $107.10 million for the quarter, compared to the consensus estimate of $106.66 million. Community Bank System had a return on equity of 8.64% and a net margin of 22.93%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 earnings per share. Equities analysts expect that Community Bank System will post $2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.67%. 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 (DPR) is currently 58.18%.
In related news, Director Nicholas A. Dicerbo sold 2,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $43.75, for a total transaction of $87,500.00. Following the sale, the director now owns 200,921 shares of the company’s stock, valued at approximately $8,790,293.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian R. Ace sold 3,817 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $43.40, for a total value of $165,657.80. Following the sale, the director now directly owns 50,275 shares in the company, valued at approximately $2,181,935. The disclosure for this sale can be found here. 3.48% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its stake in Community Bank System by 0.6% in the second quarter. Macquarie Group Ltd. now owns 1,504,544 shares of the company’s stock valued at $61,822,000 after buying an additional 8,480 shares during the period. Mason Street Advisors LLC purchased a new stake in Community Bank System during the second quarter valued at $354,000. Schwab Charles Investment Management Inc. increased its stake in Community Bank System by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 170,054 shares of the company’s stock valued at $6,988,000 after buying an additional 2,647 shares during the period. Amalgamated Bank purchased a new stake in Community Bank System during the second quarter valued at $232,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Community Bank System by 7.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 31,966 shares of the company’s stock valued at $1,313,000 after buying an additional 2,096 shares during the period. 64.39% of the stock is currently owned by institutional investors.
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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