BidaskClub Downgrades Community Bank System, Inc. (CBU) to Strong Sell

Community Bank System, Inc. (NYSE:CBU) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Monday, July 24th.

Separately, Royal Bank Of Canada raised their target price on Community Bank System from $41.00 to $56.00 and gave the company a “sector perform” rating in a report on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Community Bank System has an average rating of “Hold” and a consensus target price of $53.60.

Community Bank System (CBU) opened at 51.64 on Monday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 24.70 and a beta of 1.07. The company’s 50-day moving average price is $54.67 and its 200 day moving average price is $55.91. Community Bank System has a 52-week low of $42.67 and a 52-week high of $63.04.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Monday, July 31st. The bank reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.13. The business had revenue of $129.26 million for the quarter, compared to analyst estimates of $127 million. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS. Equities research analysts predict that Community Bank System will post $2.57 earnings per share for the current year.

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In other Community Bank System news, Director Nicholas A. Dicerbo sold 3,000 shares of the firm’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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of Community Bank System by 11.2% in the second quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock worth $336,527,000 after buying an additional 609,319 shares in the last quarter. State Street Corp increased its stake 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 worth $280,008,000 after buying an additional 2,059,920 shares in the last quarter. Vanguard Group Inc. increased its stake 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 worth $268,165,000 after buying an additional 353,538 shares in the last quarter. Neuberger Berman Group LLC increased its stake 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 worth $131,413,000 after buying an additional 110,843 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Community Bank System by 6.8% in the second quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock worth $81,410,000 after buying an additional 92,700 shares in the last quarter. 64.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

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