Community Bank System’s (CBU) Hold Rating Reaffirmed at Keefe, Bruyette & Woods
Community Bank System, Inc. (NYSE:CBU)‘s stock had its “hold” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday. They presently have a $54.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 2.33% from the company’s current price.
Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Community Bank System from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a research report on Tuesday, September 12th. Piper Jaffray Companies restated a “hold” rating and set a $51.00 target price on shares of Community Bank System in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.67.
Community Bank System (NYSE:CBU) traded down 0.18% during trading on Friday, hitting $55.29. The stock had a trading volume of 165,327 shares. The firm has a 50 day moving average of $53.16 and a 200-day moving average of $54.49. Community Bank System has a 12 month low of $42.67 and a 12 month high of $63.04. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 26.44 and a beta of 1.10.
Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Monday, July 31st. The bank reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.13. Community Bank System had a net margin of 20.63% and a return on equity of 9.04%. The business had revenue of $129.26 million during the quarter, compared to the consensus estimate of $127.00 million. During the same period in the previous year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts predict that Community Bank System will post $2.57 earnings per share for the current year.
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In other news, Director R Kallet Michael sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the sale, the director now owns 11,603 shares of the company’s stock, valued at $614,959. The transaction was disclosed in a 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 business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total transaction of $291,130.95. Following 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. In the last quarter, insiders sold 20,457 shares of company stock valued at $1,085,081. Insiders own 3.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in shares of Community Bank System by 8.2% during the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after purchasing an additional 137 shares in the last quarter. Cutler Group LP increased its stake in shares of Community Bank System by 118.7% during the second quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after purchasing an additional 12,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Community Bank System by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the bank’s stock worth $116,000 after purchasing an additional 174 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Community Bank System during the second quarter worth about $139,000. Finally, Riverhead Capital Management LLC increased its stake in shares of Community Bank System by 104.4% during the second quarter. Riverhead Capital Management LLC now owns 2,862 shares of the bank’s stock worth $160,000 after purchasing an additional 1,462 shares in the last quarter. 68.98% of the stock is owned by institutional investors and hedge funds.
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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