StockNews.com Lowers Community Bank System (NYSE:CBU) to Sell

StockNews.com cut shares of Community Bank System (NYSE:CBU – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Monday.

A number of other research analysts have also commented on the company. Piper Sandler lowered Community Bank System from a neutral rating to an underweight rating and lowered their price target for the company from $74.00 to $66.00 in a report on Monday, May 2nd. Zacks Investment Research cut Community Bank System from a buy rating to a hold rating in a research note on Tuesday, May 3rd.

Shares of CBU stock traded up $0.64 during trading hours on Monday, hitting $64.60. 194,290 shares of the company were exchanged, compared to its average volume of 234,381. The firm has a market cap of $3.48 billion, a PE ratio of 19.17 and a beta of 0.68. Community Bank System has a 1 year low of $62.08 and a 1 year high of $82.10. The firm has a fifty day moving average of $67.66 and a 200 day moving average of $71.39.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, June 14th. Community Bank System’s dividend payout ratio is presently 51.04%.

In other news, Director Sally A. Steele sold 2,000 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $65.30, for a total transaction of $130,600.00. Following the transaction, the director now owns 39,506 shares of the company’s stock, valued at $2,579,741.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey M. Levy sold 954 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $70.54, for a total value of $67,295.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,954 shares of company stock worth $863,095. 1.63% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBU. Walleye Capital LLC bought a new stake in shares of Community Bank System in the first quarter worth about $238,000. Mirabella Financial Services LLP bought a new position in shares of Community Bank System during the first quarter worth about $302,000. Jane Street Group LLC bought a new position in shares of Community Bank System during the first quarter worth about $536,000. Guggenheim Capital LLC grew its holdings in shares of Community Bank System by 15.5% during the first quarter. Guggenheim Capital LLC now owns 3,145 shares of the bank’s stock worth $221,000 after buying an additional 421 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Community Bank System by 43.6% during the first quarter. Captrust Financial Advisors now owns 3,093 shares of the bank’s stock worth $218,000 after buying an additional 939 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Community Bank System Company Profile (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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