Community Bank System (CBU) Cut to Hold at ValuEngine

Community Bank System (NYSE:CBU) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other research firms have also weighed in on CBU. Hovde Group lowered shares of Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 24th. Boenning Scattergood reissued a “hold” rating on shares of Community Bank System in a research note on Monday, July 23rd. Finally, Zacks Investment Research lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $60.60.

Community Bank System stock opened at $61.17 on Thursday. Community Bank System has a fifty-two week low of $50.69 and a fifty-two week high of $67.07. The company has a market cap of $3.19 billion, a P/E ratio of 21.92, a PEG ratio of 2.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.73 and a current ratio of 0.73.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, July 23rd. The bank reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. Community Bank System had a net margin of 33.19% and a return on equity of 10.03%. The business had revenue of $143.40 million for the quarter, compared to analyst estimates of $143.03 million. During the same quarter last year, the firm earned $0.67 EPS. Community Bank System’s quarterly revenue was up 10.9% compared to the same quarter last year. analysts expect that Community Bank System will post 3.3 EPS for the current fiscal year.

In other Community Bank System news, EVP Joseph F. Serbun sold 2,681 shares of the firm’s stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $59.73, for a total transaction of $160,136.13. Following the sale, the executive vice president now directly owns 8,309 shares in the company, valued at approximately $496,296.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John F. Whipple sold 2,566 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $66.27, for a total transaction of $170,048.82. Following the sale, the director now owns 2,835 shares in the company, valued at $187,875.45. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CBU. BlackRock Inc. raised its holdings in Community Bank System by 7.0% during the 2nd quarter. BlackRock Inc. now owns 7,117,521 shares of the bank’s stock worth $420,433,000 after buying an additional 465,005 shares during the period. Hermes Investment Management Ltd. acquired a new stake in shares of Community Bank System in the second quarter valued at approximately $25,349,000. The Manufacturers Life Insurance Company raised its holdings in shares of Community Bank System by 203.7% in the first quarter. The Manufacturers Life Insurance Company now owns 466,575 shares of the bank’s stock valued at $24,990,000 after purchasing an additional 312,920 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Community Bank System by 32.6% in the first quarter. Champlain Investment Partners LLC now owns 1,041,080 shares of the bank’s stock valued at $55,760,000 after purchasing an additional 255,880 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Community Bank System in the second quarter valued at approximately $4,828,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.

Community Bank System Company Profile

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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Analyst Recommendations for Community Bank System (NYSE:CBU)

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