Janney Montgomery Scott began coverage on shares of Community Bank System (NYSE:CBU – Get Rating) in a report published on Tuesday, The Fly reports. The brokerage issued a buy rating and a $66.00 price objective on the bank’s stock.
Several other brokerages have also commented on CBU. Raymond James initiated coverage on shares of Community Bank System in a report on Tuesday, December 20th. They issued a market perform rating for the company. StockNews.com lowered Community Bank System from a hold rating to a sell rating in a research report on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $64.50.
Community Bank System Price Performance
Shares of CBU stock opened at $56.55 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $3.04 billion, a P/E ratio of 16.34 and a beta of 0.63. The business’s 50 day moving average price is $59.70 and its 200-day moving average price is $61.81. Community Bank System has a fifty-two week low of $48.99 and a fifty-two week high of $72.86.
Community Bank System Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Wednesday, March 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.11%. Community Bank System’s dividend payout ratio is presently 50.87%.
In other Community Bank System news, Director Sally A. Steele bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was bought at an average cost of $53.46 per share, for a total transaction of $106,920.00. Following the completion of the transaction, the director now owns 4,585 shares of the company’s stock, valued at approximately $245,114.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Community Bank System news, Director Brian R. Ace sold 4,148 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $60.54, for a total transaction of $251,119.92. Following the sale, the director now directly owns 63,011 shares of the company’s stock, valued at $3,814,685.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sally A. Steele purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were bought at an average price of $53.46 per share, for a total transaction of $106,920.00. Following the acquisition, the director now directly owns 4,585 shares in the company, valued at approximately $245,114.10. The disclosure for this purchase can be found here. Corporate insiders own 1.75% of the company’s stock.
Institutional Investors Weigh In On Community Bank System
Institutional investors have recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Community Bank System during the 3rd quarter worth approximately $26,000. Wipfli Financial Advisors LLC bought a new position in Community Bank System in the 3rd quarter worth about $29,000. Quadrant Capital Group LLC increased its position in shares of Community Bank System by 80.4% during the fourth quarter. Quadrant Capital Group LLC now owns 487 shares of the bank’s stock worth $31,000 after acquiring an additional 217 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Community Bank System during the fourth quarter valued at approximately $31,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Community Bank System in the second quarter valued at approximately $32,000. Institutional investors own 71.78% of the company’s stock.
Community Bank System Company Profile
Community Bank System, Inc is a holding company, which engages in the provision of retail, business, and municipal banking services. It operates through the following segments: Banking, Employee Benefit Services, and All Other. The Banking segment offers an array of lending and depository-related products and services to individuals, businesses, and municipal enterprises.
- Get a free copy of the StockNews.com research report on Community Bank System (CBU)
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