Community Bank System (NYSE:CBU) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Community Bank System (NYSE:CBUGet Rating) from a buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

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

Several other analysts have also recently weighed in on the company. StockNews.com began coverage on Community Bank System in a research report on Thursday, March 31st. They set a hold rating on the stock. Piper Sandler downgraded Community Bank System from a neutral rating to an underweight rating and reduced their price target for the company from $74.00 to $66.00 in a report on Monday.

NYSE:CBU opened at $64.27 on Tuesday. Community Bank System has a 1 year low of $62.46 and a 1 year high of $82.10. The business has a fifty day simple moving average of $69.83 and a two-hundred day simple moving average of $72.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.62 and a quick ratio of 0.69. The company has a market capitalization of $3.46 billion, a P/E ratio of 19.07 and a beta of 0.68.

Community Bank System (NYSE:CBUGet Rating) last released its quarterly earnings results on Monday, April 25th. The bank reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.11. Community Bank System had a return on equity of 9.14% and a net margin of 28.70%. During the same quarter in the prior year, the business earned $0.97 EPS. As a group, analysts anticipate that Community Bank System will post 3.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Tuesday, March 15th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, March 14th. Community Bank System’s payout ratio is 51.04%.

In related news, Director Sally A. Steele sold 10,000 shares of Community Bank System stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $66.52, for a total value of $665,200.00. Following the completion of the sale, the director now directly owns 41,506 shares in the company, valued at approximately $2,760,979.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey M. Levy sold 954 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $70.54, for a total transaction of $67,295.16. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in Community Bank System by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,130,988 shares of the bank’s stock valued at $84,235,000 after buying an additional 16,977 shares during the period. Eaton Vance Management increased its stake in shares of Community Bank System by 4.7% during the third quarter. Eaton Vance Management now owns 945,594 shares of the bank’s stock worth $64,604,000 after buying an additional 42,285 shares during the period. Geode Capital Management LLC increased its stake in shares of Community Bank System by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 924,346 shares of the bank’s stock worth $68,845,000 after buying an additional 56,203 shares during the period. Invesco Ltd. boosted its holdings in Community Bank System by 1.1% in the fourth quarter. Invesco Ltd. now owns 513,215 shares of the bank’s stock valued at $38,225,000 after purchasing an additional 5,627 shares in the last quarter. Finally, Norges Bank acquired a new position in Community Bank System in the fourth quarter valued at approximately $33,905,000. 75.12% of the stock is currently owned by institutional investors.

About Community Bank System (Get Rating)

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 deposit accounts, as well as time deposits.

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