Community Bank System, Inc. (CBU) Cut to “Sell” at BidaskClub

BidaskClub lowered shares of Community Bank System, Inc. (NYSE:CBU) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other research analysts also recently weighed in on CBU. DA Davidson started coverage on Community Bank System in a report on Monday, March 6th. They set a neutral rating and a $60.00 target price on the stock. Royal Bank Of Canada upped their target price on Community Bank System from $41.00 to $56.00 and gave the stock a sector perform rating in a report on Tuesday, May 16th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of Hold and an average target price of $54.25.

Shares of Community Bank System (NYSE:CBU) traded down 0.02% during midday trading on Friday, reaching $55.07. The company’s stock had a trading volume of 543,056 shares. The stock has a 50-day moving average price of $55.86 and a 200-day moving average price of $57.47. Community Bank System has a 52-week low of $38.20 and a 52-week high of $63.04. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 23.54 and a beta of 1.07.

Community Bank System (NYSE:CBU) last posted its earnings results on Monday, April 24th. The bank reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Community Bank System had a return on equity of 8.84% and a net margin of 23.62%. The firm had revenue of $111.60 million for the quarter, compared to the consensus estimate of $109.43 million. During the same quarter in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Community Bank System will post $2.45 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Thursday, June 15th will be given a $0.32 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $1.28 annualized dividend and a yield of 2.32%. Community Bank System’s dividend payout ratio (DPR) is presently 54.47%.

In related news, Director Edward S. Mucenski sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $57.96, for a total value of $173,880.00. Following the transaction, the director now directly owns 3,186 shares of the company’s stock, valued at approximately $184,660.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Community Bank System by 49,469.3% in the first quarter. BlackRock Inc. now owns 5,424,867 shares of the bank’s stock valued at $298,260,000 after buying an additional 5,413,923 shares during the last quarter. State Street Corp boosted its position in Community Bank System by 157.8% in the first quarter. State Street Corp now owns 2,960,896 shares of the bank’s stock valued at $162,779,000 after buying an additional 1,812,259 shares during the last quarter. Vanguard Group Inc. boosted its position in Community Bank System by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,454,873 shares of the bank’s stock valued at $244,929,000 after buying an additional 307,784 shares during the last quarter. Norges Bank purchased a new position in Community Bank System during the fourth quarter valued at $17,383,000. Finally, Neuberger Berman Group LLC boosted its position in Community Bank System by 4.9% in the first quarter. Neuberger Berman Group LLC now owns 2,390,198 shares of the bank’s stock valued at $131,413,000 after buying an additional 110,843 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

About Community Bank System

Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.

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