Keefe, Bruyette & Woods Increases Community Bank System (NYSE:CBU) Price Target to $74.00

Community Bank System (NYSE:CBU) had its price target upped by analysts at Keefe, Bruyette & Woods from $64.00 to $74.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.11% from the company’s previous close.

Separately, Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research report on Monday, October 28th.

Community Bank System Stock Up 0.6 %

Shares of NYSE:CBU traded up $0.44 during midday trading on Wednesday, reaching $68.45. The company’s stock had a trading volume of 27,172 shares, compared to its average volume of 279,068. The firm has a 50 day moving average of $63.22 and a 200-day moving average of $56.75. The firm has a market capitalization of $3.60 billion, a P/E ratio of 21.32 and a beta of 0.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. Community Bank System has a 12-month low of $41.50 and a 12-month high of $73.39.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The firm had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. During the same period last year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that Community Bank System will post 3.38 earnings per share for the current year.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the transaction, the director now owns 5,823 shares in the company, valued at approximately $425,661.30. This represents a 40.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.78% of the company’s stock.

Hedge Funds Weigh In On Community Bank System

Several institutional investors have recently made changes to their positions in CBU. Price T Rowe Associates Inc. MD lifted its stake in shares of Community Bank System by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,219 shares of the bank’s stock worth $1,644,000 after purchasing an additional 1,897 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Community Bank System by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after purchasing an additional 212 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Community Bank System by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 50,045 shares of the bank’s stock worth $2,363,000 after purchasing an additional 1,411 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Community Bank System by 152.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock worth $8,611,000 after purchasing an additional 110,288 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Community Bank System by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank’s stock worth $1,256,000 after purchasing an additional 200 shares during the period. Institutional investors own 73.79% of the company’s stock.

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.