Zacks Investment Research upgraded shares of Community Bank System (NYSE:CBU) from a hold rating to a buy rating in a research report released on Thursday. They currently have $71.00 target price on the bank’s stock.
According to Zacks, “Community Bank System, Inc. is a bank holding company. “
Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Community Bank System from a buy rating to a hold rating in a report on Thursday, September 27th. Boenning Scattergood reiterated a hold rating on shares of Community Bank System in a report on Monday, October 22nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Community Bank System currently has a consensus rating of Hold and an average price target of $60.40.
Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, October 22nd. The bank reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.05. The firm had revenue of $141.99 million during the quarter, compared to the consensus estimate of $141.64 million. Community Bank System had a return on equity of 10.30% and a net margin of 34.24%. During the same period in the previous year, the company posted $0.68 earnings per share. On average, sell-side analysts anticipate that Community Bank System will post 3.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders 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 yield of 2.39%. Community Bank System’s dividend payout ratio is presently 54.48%.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Community Bank System by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,628,200 shares of the bank’s stock worth $343,714,000 after purchasing an additional 104,088 shares in the last quarter. Morgan Stanley raised its holdings in Community Bank System by 35.5% in the third quarter. Morgan Stanley now owns 260,828 shares of the bank’s stock worth $15,929,000 after purchasing an additional 68,279 shares in the last quarter. Legal & General Group Plc raised its holdings in Community Bank System by 7.8% in the third quarter. Legal & General Group Plc now owns 118,668 shares of the bank’s stock worth $7,231,000 after purchasing an additional 8,548 shares in the last quarter. Teachers Advisors LLC raised its holdings in Community Bank System by 1.4% in the third quarter. Teachers Advisors LLC now owns 105,007 shares of the bank’s stock worth $6,413,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Resources Management Corp CT ADV bought a new position in Community Bank System in the third quarter worth about $916,000. Institutional investors and hedge funds own 70.87% 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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