Zacks Investment Research upgraded shares of Community Bank System (NYSE:CBU) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $69.00 target price on the bank’s stock.

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

Several other brokerages have also issued reports on CBU. ValuEngine raised shares of Community Bank System from a hold rating to a buy rating in a report on Tuesday, September 4th. Boenning Scattergood reissued a hold rating on shares of Community Bank System in a report on Monday, October 22nd. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Community Bank System presently has a consensus rating of Hold and an average target price of $60.00.

Shares of Community Bank System stock opened at $61.89 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $3.17 billion, a PE ratio of 22.18, a PEG ratio of 2.30 and a beta of 0.99. Community Bank System has a 12 month low of $50.72 and a 12 month high of $67.07.

Community Bank System (NYSE:CBU) last posted its earnings results on Monday, October 22nd. The bank reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The business had revenue of $141.99 million for the quarter, compared to the consensus estimate of $141.64 million. Community Bank System had a net margin of 34.24% and a return on equity of 10.30%. During the same quarter last year, the firm posted $0.68 EPS. Sell-side analysts predict that Community Bank System will post 3.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Friday, December 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.46%. Community Bank System’s dividend payout ratio is presently 54.48%.

A number of institutional investors and hedge funds have recently bought and sold shares of CBU. Destination Wealth Management purchased a new position in Community Bank System in the third quarter valued at about $122,000. US Bancorp DE grew its position in shares of Community Bank System by 67.5% in the 3rd quarter. US Bancorp DE now owns 3,225 shares of the bank’s stock worth $197,000 after buying an additional 1,300 shares during the last quarter. Alpha Omega Wealth Management LLC purchased a new position in shares of Community Bank System in the 3rd quarter worth approximately $212,000. Strs Ohio grew its position in shares of Community Bank System by 29.0% in the 2nd quarter. Strs Ohio now owns 4,000 shares of the bank’s stock worth $236,000 after buying an additional 900 shares during the last quarter. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Community Bank System in the 3rd quarter worth approximately $256,000. Institutional investors own 70.65% of the company’s stock.

About Community Bank System

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.

Read More: How to calculate the annual rate of depreciation

Get a free copy of the Zacks research report on Community Bank System (CBU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Community Bank System (NYSE:CBU)

Receive News & Ratings for Community Bank System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System and related companies with MarketBeat.com's FREE daily email newsletter.