Zacks Investment Research downgraded shares of Community Bank System (NYSE:CBU) from a buy rating to a hold rating in a research report report published on Monday, Zacks.com reports.

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

Other equities research analysts also recently issued reports about the stock. Stephens assumed coverage on shares of Community Bank System in a research note on Tuesday, April 9th. They issued an equal weight rating and a $63.00 price target on the stock. ValuEngine downgraded shares of Community Bank System from a buy rating to a hold rating in a research note on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating, Community Bank System currently has a consensus rating of Hold and an average price target of $67.00.

Community Bank System stock opened at $63.95 on Monday. The company has a market capitalization of $3.29 billion, a PE ratio of 18.98, a P/E/G ratio of 2.43 and a beta of 0.99. Community Bank System has a 1 year low of $54.46 and a 1 year high of $67.79. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, April 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The business had revenue of $142.60 million for the quarter, compared to the consensus estimate of $142.48 million. Community Bank System had a net margin of 28.93% and a return on equity of 10.49%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, research analysts forecast that Community Bank System will post 3.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, June 13th. Community Bank System’s payout ratio is currently 45.10%.

In related news, Director R Kallet Michael sold 6,725 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $62.49, for a total transaction of $420,245.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.15% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cresset Asset Management LLC purchased a new stake in Community Bank System during the 1st quarter worth approximately $29,000. Toronto Dominion Bank purchased a new stake in shares of Community Bank System in the 4th quarter valued at approximately $32,000. Ellis Investment Partners LLC purchased a new stake in shares of Community Bank System in the 1st quarter valued at approximately $58,000. Stone House Investment Management LLC purchased a new stake in shares of Community Bank System in the 1st quarter valued at approximately $140,000. Finally, LS Investment Advisors LLC increased its position in shares of Community Bank System by 86.6% in the 4th quarter. LS Investment Advisors LLC now owns 2,640 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,225 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Company Profile

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 accounts, as well as time deposits.

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