Community Bank System (CBU) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Community Bank System (NYSE:CBU) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $69.00 target price on the bank’s stock.

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

Several other equities analysts have also recently weighed in on CBU. ValuEngine raised Community Bank System from a hold rating to a buy rating in a research note on Tuesday, September 4th. Boenning Scattergood reaffirmed a hold rating on shares of Community Bank System in a research note on Monday, October 22nd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Community Bank System currently has an average rating of Hold and a consensus price target of $60.00.

Shares of CBU opened at $62.16 on Thursday. The stock has a market capitalization of $3.15 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.28 and a beta of 0.99. Community Bank System has a 1-year low of $50.72 and a 1-year high of $67.07. 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 (NYSE:CBU) last released its earnings results on Monday, October 22nd. The bank reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.05. Community Bank System had a return on equity of 10.30% and a net margin of 34.24%. The company had revenue of $141.99 million for the quarter, compared to analysts’ expectations of $141.64 million. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, equities analysts forecast that Community Bank System will post 3.37 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.52 annualized dividend and a dividend yield of 2.45%. Community Bank System’s dividend payout ratio is 54.48%.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Community Bank System by 3.7% during the 3rd quarter. BlackRock Inc. now owns 7,379,973 shares of the bank’s stock valued at $450,695,000 after buying an additional 262,452 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Community Bank System by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,628,200 shares of the bank’s stock valued at $343,714,000 after buying an additional 104,088 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Community Bank System by 1.0% during the 2nd quarter. Northern Trust Corp now owns 1,471,201 shares of the bank’s stock valued at $86,904,000 after buying an additional 15,214 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Community Bank System by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 757,782 shares of the bank’s stock valued at $46,278,000 after buying an additional 23,652 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Community Bank System by 8.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 315,741 shares of the bank’s stock valued at $18,651,000 after buying an additional 23,971 shares during the last quarter. Institutional investors and hedge funds own 70.65% 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 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 accounts, as well as time deposits.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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