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

Community Bank System (NYSE:CBU) was upgraded by analysts at Raymond James from a “market perform” rating to a “strong-buy” rating in a report issued on Monday, MarketBeat.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 10.38% from the company’s previous close.

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

Community Bank System Stock Down 0.5 %

Shares of CBU stock opened at $60.70 on Monday. Community Bank System has a twelve month low of $38.53 and a twelve month high of $63.95. The stock has a market cap of $3.20 billion, a P/E ratio of 18.84 and a beta of 0.64. The stock has a 50 day moving average of $58.89 and a 200 day moving average of $52.68. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43.

Community Bank System (NYSE:CBU) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). The firm had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. Community Bank System’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share. As a group, sell-side analysts expect that Community Bank System will post 3.42 EPS for the current year.

Institutional Trading of Community Bank System

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new position in Community Bank System in the 2nd quarter valued at about $76,000. Benjamin Edwards Inc. lifted its position in shares of Community Bank System by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock valued at $162,000 after acquiring an additional 741 shares in the last quarter. IFG Advisory LLC acquired a new stake in shares of Community Bank System in the second quarter worth approximately $212,000. QRG Capital Management Inc. increased its position in shares of Community Bank System by 4.5% during the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after purchasing an additional 212 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Community Bank System during the second quarter worth approximately $231,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

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, 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.