Community Bank System (CBU) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Community Bank System (NYSE:CBU) from a buy rating to a hold rating in a research report report published on Monday.

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

CBU has been the subject of several other reports. Boenning Scattergood reaffirmed a hold rating on shares of Community Bank System in a research note on Monday, October 22nd. ValuEngine lowered shares of Community Bank System from a buy rating to a hold rating in a research note on Thursday, September 27th. Finally, 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $60.40.

CBU stock opened at $63.00 on Monday. Community Bank System has a fifty-two week low of $50.72 and a fifty-two week high of $67.07. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.22 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.41%. Community Bank System’s payout ratio is 54.48%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio boosted its stake in Community Bank System by 29.0% during the second quarter. Strs Ohio now owns 4,000 shares of the bank’s stock worth $236,000 after buying an additional 900 shares during the period. Meadow Creek Investment Management LLC lifted its position in shares of Community Bank System by 14.8% during the second quarter. Meadow Creek Investment Management LLC now owns 7,364 shares of the bank’s stock worth $435,000 after purchasing an additional 952 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Community Bank System by 30.8% during the third quarter. Fifth Third Bancorp now owns 4,249 shares of the bank’s stock worth $259,000 after purchasing an additional 1,000 shares during the last quarter. Piedmont Investment Advisors LLC lifted its position in shares of Community Bank System by 9.3% during the second quarter. Piedmont Investment Advisors LLC now owns 11,866 shares of the bank’s stock worth $701,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Community Bank System by 15.9% during the second quarter. Victory Capital Management Inc. now owns 7,982 shares of the bank’s stock worth $471,000 after purchasing an additional 1,096 shares during the last quarter. 70.87% of the stock is owned by institutional investors.

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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