Community Bank System's (CBU) "Market Perform" Rating Reaffirmed at Keefe, Bruyette & Woods

Community Bank System (NYSE:CBU - Get Free Report)'s stock had its "market perform" rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a report issued on Tuesday, Benzinga reports. They presently have a $59.00 target price on the bank's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 3.65% from the stock's previous close.

Separately, Raymond James lowered Community Bank System from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $50.50.

Read Our Latest Stock Analysis on CBU

Community Bank System Price Performance

CBU traded down $0.52 during trading on Tuesday, reaching $56.92. 23,495 shares of the stock were exchanged, compared to its average volume of 288,180. Community Bank System has a 1 year low of $35.38 and a 1 year high of $63.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.76 and a quick ratio of 0.76. The business's 50 day moving average price is $57.18 and its two-hundred day moving average price is $49.54. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 17.91 and a beta of 0.64.

Community Bank System (NYSE:CBU - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.14. The business had revenue of $183.80 million during the quarter, compared to analyst estimates of $180.05 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The company's revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. As a group, equities research analysts anticipate that Community Bank System will post 3.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Dimitar Karaivanov bought 1,000 shares of the firm's stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $43.52 per share, for a total transaction of $43,520.00. Following the transaction, the chief executive officer now owns 19,653 shares in the company, valued at $855,298.56. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Community Bank System

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Community Bank System during the fourth quarter worth about $30,870,000. Hsbc Holdings PLC bought a new stake in shares of Community Bank System in the fourth quarter valued at approximately $14,612,000. Public Employees Retirement Association of Colorado grew its position in Community Bank System by 140.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 386,069 shares of the bank's stock worth $20,118,000 after purchasing an additional 225,685 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Community Bank System by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank's stock valued at $83,588,000 after acquiring an additional 142,909 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Community Bank System by 164.9% during the second quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank's stock valued at $10,064,000 after purchasing an additional 132,697 shares during the period. Institutional investors and hedge funds own 73.79% of the company's stock.

About Community Bank System

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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.

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