Community Bank System (NYSE:CBU) Upgraded at Zacks Investment Research

Community Bank System (NYSE:CBU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The firm currently has a $87.00 target price on the bank’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.86% from the company’s current price.

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

NYSE:CBU opened at $79.92 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day simple moving average is $77.91 and its 200 day simple moving average is $69.00. The company has a market cap of $4.31 billion, a P/E ratio of 26.38 and a beta of 0.72. Community Bank System has a 52-week low of $49.60 and a 52-week high of $82.53.

Community Bank System (NYSE:CBU) last released its earnings results on Sunday, April 25th. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. Community Bank System had a return on equity of 8.52% and a net margin of 25.98%. During the same period in the prior year, the company earned $0.77 EPS. As a group, equities analysts predict that Community Bank System will post 3.12 earnings per share for the current fiscal year.

In related news, Director John Parente sold 7,568 shares of Community Bank System stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $79.36, for a total transaction of $600,596.48. Following the completion of the transaction, the director now owns 67,578 shares in the company, valued at $5,362,990.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sally A. Steele sold 3,195 shares of Community Bank System stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $70.01, for a total value of $223,681.95. Following the transaction, the director now owns 50,062 shares of the company’s stock, valued at approximately $3,504,840.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,929 shares of company stock worth $1,476,778. 2.10% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of CBU. Clean Yield Group grew its holdings in Community Bank System by 145.6% during the fourth quarter. Clean Yield Group now owns 415 shares of the bank’s stock worth $26,000 after purchasing an additional 246 shares during the period. Vantage Consulting Group Inc bought a new stake in shares of Community Bank System during the fourth quarter worth approximately $27,000. Winslow Evans & Crocker Inc. bought a new stake in shares of Community Bank System during the fourth quarter worth approximately $62,000. Toronto Dominion Bank bought a new stake in shares of Community Bank System during the fourth quarter worth approximately $68,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Community Bank System during the fourth quarter worth approximately $69,000. Institutional investors and hedge funds own 69.82% 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, 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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