Community Bank System Inc. (NYSE:CBU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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

CBU has been the subject of a number of other research reports. Sandler O’Neill cut Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Hovde Group lifted their price objective on Community Bank System from $38.00 to $43.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating, Community Bank System currently has an average rating of “Hold” and a consensus target price of $41.50.

Shares of Community Bank System (NYSE:CBU) opened at 47.16 on Tuesday. The firm has a market cap of $2.09 billion, a PE ratio of 21.42 and a beta of 0.98. The stock’s 50 day moving average is $46.21 and its 200 day moving average is $41.65. Community Bank System has a 12 month low of $34.27 and a 12 month high of $48.19.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm earned $107.10 million during the quarter, compared to analysts’ expectations of $106.66 million. Community Bank System had a return on equity of 8.64% and a net margin of 22.93%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. On average, analysts anticipate that Community Bank System will post $2.31 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be issued a $0.32 dividend. This is a boost from Community Bank System’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, September 13th. This represents a $1.28 annualized dividend and a yield of 2.71%. Community Bank System’s payout ratio is 58.18%.

In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of Community Bank System stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $43.75, for a total value of $87,500.00. Following the completion of the sale, the director now owns 200,921 shares in the company, valued at approximately $8,790,293.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian R. Ace sold 3,817 shares of Community Bank System stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $43.40, for a total value of $165,657.80. Following the completion of the sale, the director now owns 50,275 shares of the company’s stock, valued at approximately $2,181,935. The disclosure for this sale can be found here. 3.48% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of CBU. BlackRock Inc. boosted its stake in Community Bank System by 141.7% in the first quarter. BlackRock Inc. now owns 3,057 shares of the company’s stock valued at $117,000 after buying an additional 1,792 shares during the period. Victory Capital Management Inc. boosted its stake in Community Bank System by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,956 shares of the company’s stock valued at $121,000 after buying an additional 1,289 shares during the period. C M Bidwell & Associates Ltd. boosted its stake in Community Bank System by 1.0% in the first quarter. C M Bidwell & Associates Ltd. now owns 4,515 shares of the company’s stock valued at $173,000 after buying an additional 45 shares during the period. Bank of Montreal Can acquired a new stake in Community Bank System during the second quarter valued at approximately $178,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in Community Bank System by 2.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,016 shares of the company’s stock valued at $206,000 after buying an additional 118 shares during the period. Institutional investors own 64.39% of the company’s stock.

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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