Zacks Investment Research Lowers Community Bank System (CBU) to Hold

Zacks Investment Research cut shares of Community Bank System (NYSE:CBU) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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

Several other analysts also recently weighed in on CBU. Keefe, Bruyette & Woods reissued a hold rating and issued a $58.00 price target on shares of Community Bank System in a research note on Wednesday, January 24th. Boenning Scattergood reaffirmed a hold rating on shares of Community Bank System in a research note on Monday, January 22nd. DA Davidson set a $55.00 price objective on shares of Community Bank System and gave the company a hold rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Sandler O’Neill raised shares of Community Bank System from a sell rating to a hold rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The company presently has an average rating of Hold and an average target price of $56.60.

Community Bank System (NYSE:CBU) opened at $54.52 on Tuesday. Community Bank System has a 1 year low of $48.89 and a 1 year high of $61.25. The stock has a market cap of $2,747.72, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.75 and a quick ratio of 0.72.

Community Bank System (NYSE:CBU) last announced its earnings results on Monday, January 22nd. The bank reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71. The company had revenue of $139.90 million during the quarter, compared to analyst estimates of $138.09 million. Community Bank System had a net margin of 28.34% and a return on equity of 9.18%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. analysts predict that Community Bank System will post 3 EPS for the current fiscal year.

In related news, Director R Kallet Michael sold 7,500 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $56.38, for a total transaction of $422,850.00. Following the transaction, the director now owns 4,103 shares in the company, valued at $231,327.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian D. Donahue sold 5,535 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $55.19, for a total transaction of $305,476.65. Following the completion of the sale, the executive vice president now owns 43,844 shares in the company, valued at approximately $2,419,750.36. The disclosure for this sale can be found here. Insiders have sold 15,440 shares of company stock worth $862,488 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Community Bank System during the third quarter valued at approximately $151,000. CIBC Asset Management Inc purchased a new stake in shares of Community Bank System during the third quarter valued at approximately $204,000. Ameritas Investment Partners Inc. grew its holdings in shares of Community Bank System by 15.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the bank’s stock valued at $240,000 after buying an additional 592 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Community Bank System during the second quarter valued at approximately $247,000. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of Community Bank System by 24.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 6,412 shares of the bank’s stock valued at $345,000 after buying an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

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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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