Zacks Investment Research Downgrades Community Bank System (CBU) to Sell

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

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

A number of other equities research analysts also recently issued reports on CBU. ValuEngine downgraded shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Stephens assumed coverage on shares of Community Bank System in a research note on Tuesday, April 9th. They set an “equal weight” rating and a $63.00 price objective on the stock. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Community Bank System in a research note on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $61.25.

Shares of Community Bank System stock opened at $63.72 on Monday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.49 and a beta of 0.93. 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 has a 12-month low of $53.24 and a 12-month high of $67.07.

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

In other news, CEO Mark E. Tryniski sold 11,369 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $62.11, for a total value of $706,128.59. Following the sale, the chief executive officer now directly owns 119,497 shares in the company, valued at approximately $7,421,958.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R Kallet Michael sold 6,725 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $62.49, for a total transaction of $420,245.25. The disclosure for this sale can be found here. Company insiders own 2.15% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CBU. Toronto Dominion Bank acquired a new stake in shares of Community Bank System in the 4th quarter valued at approximately $32,000. Stone House Investment Management LLC acquired a new stake in shares of Community Bank System in the 1st quarter valued at approximately $140,000. LS Investment Advisors LLC boosted its stake in shares of Community Bank System by 86.6% in the 4th quarter. LS Investment Advisors LLC now owns 2,640 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,225 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Community Bank System in the 1st quarter valued at approximately $155,000. Finally, Bank of Montreal Can raised its holdings in Community Bank System by 9.2% in the 4th quarter. Bank of Montreal Can now owns 4,268 shares of the bank’s stock valued at $249,000 after buying an additional 358 shares during the last quarter. Institutional investors own 71.09% of the company’s stock.

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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