Community Bank System (NYSE:CBU) Lifted to “Strong-Buy” at Raymond James

Community Bank System (NYSE:CBU) was upgraded by equities researchers at Raymond James from a “market perform” rating to a “strong-buy” rating in a note issued to investors on Monday, Briefing.com reports. The firm currently has a $67.00 price objective on the bank’s stock. Raymond James’ price target would suggest a potential upside of 18.54% from the stock’s previous close.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a report on Tuesday, September 10th.

Community Bank System Price Performance

NYSE:CBU opened at $56.52 on Monday. The firm’s fifty day moving average is $58.86 and its two-hundred day moving average is $52.56. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 17.77 and a beta of 0.64. 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 has a one year low of $37.99 and a one year high of $63.95.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). The company had revenue of $188.94 million during the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. Research analysts expect that Community Bank System will post 3.42 EPS for the current year.

Institutional Trading of Community Bank System

Institutional investors have recently bought and sold shares of the business. Ausbil Investment Management Ltd lifted its position in shares of Community Bank System by 494.7% during the 3rd quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock valued at $1,774,000 after buying an additional 25,415 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Community Bank System by 9.5% in the 3rd quarter. Fulton Bank N.A. now owns 8,078 shares of the bank’s stock worth $469,000 after buying an additional 702 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Community Bank System during the 2nd quarter worth approximately $76,000. Algert Global LLC purchased a new stake in Community Bank System during the 2nd quarter worth approximately $642,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Community Bank System by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,088 shares of the bank’s stock valued at $1,373,000 after acquiring an additional 484 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

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.