Community Bank System (NYSE:CBU) raised to “Hold” on StockNews.com

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Community Banking System (NYSE: CBU – Get Assessed) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note released Friday.

Separately, Piper Sandler downgraded Community Bank System from a “neutral” rating to an “underweight” rating and reduced its target price for the company from $74.00 to $66.00 in a research note from the Monday May 2.

CBU stock traded down $0.12 during Friday’s trading, hitting $63.95. The company had a trading volume of 122,742 shares, compared to an average volume of 223,896. The company has a quick ratio of 0.62, a current ratio of 0.62 and a leverage ratio of 0.17. The company has a 50-day moving average price of $64.21 and a 200-day moving average price of $69.24. Community Bank System has a 1 year minimum of $61.08 and a 1 year maximum of $78.00. The company has a market capitalization of $3.45 billion, a PE ratio of 18.98 and a beta of 0.67.

Community Bank System (NYSE:CBU – Get Rating) last released its results on Monday, April 25. The bank reported earnings per share (EPS) of $0.87 for the quarter, beating the consensus estimate of $0.76 by $0.11. Community Bank System had a return on equity of 9.14% and a net margin of 28.70%. The company posted revenue of $160.55 million for the quarter, compared to $158.26 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.97. Sell-side analysts expect Community Bank System to post earnings per share of 3.46 for the current year.

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In other news, Manager Sally A. Steele sold 10,000 shares in a trade dated Thursday, April 28. The shares were sold at an average price of $66.52, for a total transaction of $665,200.00. Following the transaction, the director now owns 41,506 shares of the company, valued at $2,760,979.12. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Sally A. Steele sold 2,000 shares in a trade dated Monday, May 23. The stock was sold at an average price of $65.30, for a total transaction of $130,600.00. As a result of the transaction, the administrator now directly owns 39,506 shares of the company, valued at approximately $2,579,741.80. The disclosure of this sale can be found here. 1.63% of the shares are currently held by insiders.

Hedge funds and other institutional investors have recently been buying and selling stocks. Janney Montgomery Scott LLC increased its stake in Community Bank System shares by 10.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the bank valued at $2,030,000 after acquiring 2,517 additional shares during the period. New Jersey State Joint Pension Fund D increased its holdings in Community Bank System 4.2% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 37,528 shares of the bank worth $2,795,000 after buying 1,496 more shares last quarter. Nuveen Asset Management LLC increased its holdings in Community Bank System by 15.0% during the fourth quarter. Nuveen Asset Management LLC now owns 288,796 shares of the bank worth $21,509,000 after purchasing an additional 37,736 shares last quarter. Maryland State Retirement & Pension System increased its holdings in Community Bank System by 1.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,500 shares of the bank worth $1,601,000 after buying 285 additional shares last quarter. Finally, GSA Capital Partners LLP increased its holdings in Community Bank System by 23.6% during the fourth quarter. GSA Capital Partners LLP now owns 4,806 shares of the bank worth $358,000 after buying 918 additional shares last quarter. Institutional investors and hedge funds hold 75.12% of the company’s shares.

About Community Banking (Get an assessment)

Community Bank System, Inc. operates as a bank holding company for Community Bank, NA, which provides various banking and other financial services to retail, commercial and municipal customers. It operates through three segments: Banking, Employee Benefits Services and All Others. The Company offers various deposit products, such as checking, savings and money market deposit accounts, as well as term deposits.

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