Community Bank System, Inc. (CBU) Upgraded at Zacks Investment Research

Community Bank System, Inc. (NYSE:CBU) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $58.00 target price on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.88% from the company’s current price.

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

Several other brokerages have also recently weighed in on CBU. Royal Bank Of Canada lifted their price target on Community Bank System from $41.00 to $56.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 16th. Piper Jaffray Companies reiterated a “hold” rating and set a $51.00 price target on shares of Community Bank System in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded Community Bank System from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.80.

Community Bank System (NYSE CBU) traded up 2.25% during midday trading on Tuesday, reaching $51.84. 176,848 shares of the company traded hands. The firm has a 50-day moving average of $52.84 and a 200-day moving average of $54.96. Community Bank System has a 1-year low of $42.67 and a 1-year high of $63.04. The stock has a market capitalization of $2.62 billion, a P/E ratio of 24.79 and a beta of 1.09.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, July 31st. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.13. The company had revenue of $129.26 million during the quarter, compared to analysts’ expectations of $127.00 million. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. Community Bank System’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share. On average, 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 Nicholas A. Dicerbo sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $56.03, for a total value of $168,090.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of CBU. BlackRock Inc. increased its position in shares of Community Bank System by 49,469.3% in the first quarter. BlackRock Inc. now owns 5,424,867 shares of the bank’s stock valued at $298,260,000 after buying an additional 5,413,923 shares in the last quarter. State Street Corp increased its position in shares of Community Bank System by 69.6% in the second quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock valued at $280,008,000 after buying an additional 2,059,920 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Community Bank System by 7.9% in the second quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock valued at $268,165,000 after buying an additional 353,538 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Community Bank System by 4.9% in the first quarter. Neuberger Berman Group LLC now owns 2,390,198 shares of the bank’s stock valued at $131,413,000 after buying an additional 110,843 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Community Bank System by 175.4% in the second quarter. The Manufacturers Life Insurance Company now owns 153,449 shares of the bank’s stock valued at $8,558,000 after buying an additional 97,732 shares in the last quarter. Institutional investors and hedge funds own 69.22% of the company’s stock.

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.

Analyst Recommendations for Community Bank System (NYSE:CBU)

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