Community Bank System (NYSE:CBU) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Community Bank System (NYSE:CBU)‘s stock had its “market perform” rating reissued by research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $59.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 4.76% from the stock’s current price.

Separately, Raymond James downgraded shares of Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, Community Bank System has an average rating of “Hold” and an average price target of $50.50.

Community Bank System Price Performance

Shares of CBU opened at $56.32 on Tuesday. Community Bank System has a fifty-two week low of $35.38 and a fifty-two week high of $63.95. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.74 and a beta of 0.64. The firm has a 50-day simple moving average of $57.38 and a 200-day simple moving average of $49.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 0.76.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.14. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The business had revenue of $183.80 million during the quarter, compared to the consensus estimate of $180.05 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Community Bank System will post 3.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CBU. Norges Bank purchased a new position in Community Bank System in the fourth quarter valued at about $30,870,000. Hsbc Holdings PLC purchased a new position in Community Bank System in the fourth quarter valued at about $14,612,000. Public Employees Retirement Association of Colorado increased its holdings in Community Bank System by 140.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 386,069 shares of the bank’s stock valued at $20,118,000 after buying an additional 225,685 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Community Bank System by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank’s stock valued at $83,588,000 after buying an additional 142,909 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Community Bank System by 164.9% in the second quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank’s stock valued at $10,064,000 after buying an additional 132,697 shares in the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.