Community Bank System (CBU) Downgraded by Zacks Investment Research to Sell

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Community Bank System (NYSE:CBU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

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

Other equities analysts have also issued research reports about the stock. ValuEngine raised shares of Community Bank System from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Stephens initiated coverage on shares of Community Bank System in a report on Tuesday, April 9th. They issued an “equal weight” rating and a $63.00 price target for the company. Finally, Boenning Scattergood reissued a “hold” rating on shares of Community Bank System in a report on Wednesday, January 23rd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $61.25.

Shares of Community Bank System stock traded down $1.42 on Monday, hitting $62.36. 126,127 shares of the company’s stock traded hands, compared to its average volume of 195,918. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.45 and a beta of 0.92. Community Bank System has a one year low of $53.24 and a one year high of $67.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Wednesday, January 23rd. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.02). Community Bank System had a net margin of 28.74% and a return on equity of 10.55%. The firm had revenue of $141.61 million during the quarter, compared to analyst estimates of $142.54 million. During the same period last year, the firm earned $0.64 EPS. As a group, research analysts forecast that Community Bank System will post 3.2 EPS for the current fiscal year.

In other news, Director R Kallet Michael sold 6,725 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $62.49, for a total value of $420,245.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark E. Tryniski sold 11,369 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $62.11, for a total transaction of $706,128.59. Following the completion of the transaction, the chief executive officer now directly owns 119,497 shares of the company’s stock, valued at approximately $7,421,958.67. The disclosure for this sale can be found here. 2.34% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CBU. Bank of New York Mellon Corp boosted its stake in Community Bank System by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 757,782 shares of the bank’s stock worth $46,278,000 after purchasing an additional 23,652 shares during the period. Baird Financial Group Inc. acquired a new position in Community Bank System in the 3rd quarter worth $307,000. Dynamic Technology Lab Private Ltd boosted its stake in Community Bank System by 64.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 8,416 shares of the bank’s stock worth $514,000 after purchasing an additional 3,293 shares during the period. Fifth Third Bancorp boosted its stake in Community Bank System by 30.8% in the 3rd 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 period. Finally, MetLife Investment Advisors LLC boosted its stake in Community Bank System by 56.8% in the 3rd quarter. MetLife Investment Advisors LLC now owns 34,983 shares of the bank’s stock worth $2,136,000 after purchasing an additional 12,679 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Company Profile

Community Bank System, Inc provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. It provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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