Community Bank System (CBU) Upgraded to “Buy” by ValuEngine

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Community Bank System (NYSE:CBU) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Tuesday.

Other research analysts have also recently issued reports about the company. Boenning Scattergood reiterated a “hold” rating on shares of Community Bank System in a research note on Monday, July 23rd. Zacks Investment Research cut Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Hovde Group cut Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 24th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $60.60.

NYSE CBU opened at $66.26 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.73 and a quick ratio of 0.73. Community Bank System has a fifty-two week low of $48.89 and a fifty-two week high of $67.07. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 2.50 and a beta of 1.02.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, July 23rd. The bank reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.10. Community Bank System had a return on equity of 10.03% and a net margin of 33.19%. The company had revenue of $143.40 million during the quarter, compared to analysts’ expectations of $143.03 million. During the same period in the prior year, the company earned $0.67 EPS. Community Bank System’s revenue was up 10.9% compared to the same quarter last year. analysts predict that Community Bank System will post 3.3 EPS for the current fiscal year.

In related news, Director Mark J. Bolus sold 3,693 shares of the stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $60.39, for a total value of $223,020.27. Following the completion of the sale, the director now directly owns 66,759 shares in the company, valued at $4,031,576.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John F. Whipple sold 2,566 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $66.27, for a total value of $170,048.82. Following the completion of the sale, the director now owns 2,835 shares of the company’s stock, valued at $187,875.45. The disclosure for this sale can be found here. Insiders sold a total of 8,940 shares of company stock valued at $553,205 over the last quarter. 2.34% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its holdings in Community Bank System by 60.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,659 shares of the bank’s stock valued at $144,000 after purchasing an additional 999 shares during the period. SG Americas Securities LLC acquired a new stake in Community Bank System in the first quarter valued at $189,000. Clean Yield Group acquired a new stake in Community Bank System in the second quarter valued at $212,000. Strs Ohio increased its holdings in Community Bank System by 29.0% in the second quarter. Strs Ohio now owns 4,000 shares of the bank’s stock valued at $236,000 after purchasing an additional 900 shares during the period. Finally, Zeke Capital Advisors LLC acquired a new stake in Community Bank System in the first quarter valued at $246,000. Institutional investors and hedge funds own 70.94% 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.

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Analyst Recommendations for Community Bank System (NYSE:CBU)

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