Community Bank System, Inc. (CBU) Upgraded to “Strong-Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Community Bank System, Inc. (NYSE:CBU) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday. They currently have $58.00 target price on the bank’s stock.
According to Zacks, “Community Bank System, Inc. is a bank holding company. “
CBU has been the subject of a number of other reports. BidaskClub lowered Community Bank System from a hold rating to a sell rating in a research note on Saturday, June 24th. Royal Bank Of Canada raised their target price on Community Bank System from $41.00 to $56.00 and gave the company a sector perform rating in a research note on Tuesday, May 16th. Finally, Piper Jaffray Companies restated a hold rating and issued a $51.00 target price on shares of Community Bank System in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $54.80.
Shares of Community Bank System (NYSE CBU) opened at 51.84 on Tuesday. Community Bank System has a 1-year low of $42.67 and a 1-year high of $63.04. The firm’s 50-day moving average is $52.84 and its 200 day moving average is $54.96. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 24.79 and a beta of 1.09.
Community Bank System (NYSE:CBU) last announced its earnings results on Monday, July 31st. The bank reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.13. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The company had revenue of $129.26 million during the quarter, compared to analyst estimates of $127.00 million. During the same period last year, the company posted $0.58 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts expect that Community Bank System will post $2.57 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid a $0.34 dividend. The ex-dividend date is Thursday, September 14th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.62%. Community Bank System’s dividend payout ratio (DPR) is 60.38%.
In other news, Director Nicholas A. Dicerbo sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $56.03, for a total value of $168,090.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CBU. Bank of Montreal Can boosted its holdings in Community Bank System by 0.6% in the first quarter. Bank of Montreal Can now owns 4,182 shares of the bank’s stock valued at $230,000 after acquiring an additional 25 shares during the last quarter. Glen Harbor Capital Management LLC bought a new position in Community Bank System in the first quarter valued at about $153,000. Great West Life Assurance Co. Can boosted its holdings in Community Bank System by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 62,980 shares of the bank’s stock valued at $3,460,000 after acquiring an additional 3,886 shares during the last quarter. First Trust Advisors LP boosted its holdings in Community Bank System by 50.2% in the first quarter. First Trust Advisors LP now owns 34,075 shares of the bank’s stock valued at $1,873,000 after acquiring an additional 11,393 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Community Bank System by 84.6% in the first quarter. Advisors Asset Management Inc. now owns 15,444 shares of the bank’s stock valued at $849,000 after acquiring an additional 7,080 shares during the last quarter. Institutional investors and hedge funds own 69.22% of the company’s stock.
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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