Community Bank System (NYSE:CBU) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Community Bank System (NYSE:CBU) from a sell rating to a hold rating in a report issued on Monday, Zacks.com reports.

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

Separately, ValuEngine downgraded shares of Community Bank System from a buy rating to a hold rating in a research report on Thursday, August 1st.

Shares of NYSE:CBU opened at $64.39 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $3.39 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02. Community Bank System has a 52 week low of $54.46 and a 52 week high of $67.79. The firm has a 50 day simple moving average of $62.09 and a 200 day simple moving average of $63.27.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.80 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.80. The business had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.08 million. Community Bank System had a net margin of 28.64% and a return on equity of 10.10%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, equities analysts predict that Community Bank System will post 3.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, September 13th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.38. Community Bank System’s dividend payout ratio is currently 48.66%.

In other Community Bank System news, Director Brian R. Ace sold 4,471 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $65.78, for a total value of $294,102.38. Following the transaction, the director now owns 61,910 shares in the company, valued at approximately $4,072,439.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.15% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its stake in Community Bank System by 81.4% in the 1st quarter. Toronto Dominion Bank now owns 987 shares of the bank’s stock valued at $59,000 after buying an additional 443 shares during the period. Point72 Asset Management L.P. acquired a new position in Community Bank System in the 2nd quarter valued at approximately $59,000. Krane Funds Advisors LLC acquired a new position in Community Bank System in the 2nd quarter valued at approximately $60,000. Diversified Trust Co acquired a new position in Community Bank System in the 2nd quarter valued at approximately $221,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Community Bank System in the 2nd quarter valued at approximately $222,000. Hedge funds and other institutional investors own 71.32% 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 other 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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