Community Bank System, Inc. (NYSE:CBU) Receives $63.00 Average Target Price from Brokerages

Posted by Defense World Staff on Apr 10th, 2023

Community Bank System, Inc. (NYSE:CBU – Get Rating) has earned an average rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $63.00.

Several research analysts have weighed in on the company. Raymond James assumed coverage on Community Bank System in a research report on Tuesday, December 20th. They issued a “market perform” rating on the stock. Janney Montgomery Scott began coverage on shares of Community Bank System in a research note on Tuesday, March 14th. They issued a “buy” rating and a $66.00 target price for the company. StockNews.com started coverage on shares of Community Bank System in a research note on Thursday, March 16th. They set a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods cut their price target on shares of Community Bank System from $64.00 to $57.00 and set a “market perform” rating on the stock in a report on Thursday.

Insider Activity at Community Bank System

In other Community Bank System news, Director Sally A. Steele acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were acquired 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 of the company’s stock, valued at approximately $245,114.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sally A. Steele bought 2,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was purchased at an average price of $53.46 per share, for a total transaction of $106,920.00. Following the acquisition, the director now owns 4,585 shares in the company, valued at $245,114.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kerrie D. Macpherson purchased 1,000 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was purchased at an average price of $55.42 per share, for a total transaction of $55,420.00. Following the completion of the acquisition, the director now owns 3,662 shares of the company’s stock, valued at $202,948.04. The disclosure for this purchase can be found here. Corporate insiders own 1.63% of the company’s stock.

Institutional Investors Weigh In On Community Bank System

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in Community Bank System in the 3rd quarter worth about $26,000. Wipfli Financial Advisors LLC bought a new stake in shares of Community Bank System in the third quarter valued at approximately $29,000. Quadrant Capital Group LLC grew its position in 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 buying an additional 217 shares in the last quarter. Lazard Asset Management LLC bought a new position in Community Bank System during the 4th quarter worth $31,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Community Bank System during the 2nd quarter worth $32,000. Institutional investors own 71.78% of the company’s stock.

Community Bank System Price Performance

Shares of CBU opened at $49.15 on Friday. The business’s 50-day moving average is $56.82 and its 200-day moving average is $60.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 14.21 and a beta of 0.61. Community Bank System has a fifty-two week low of $48.68 and a fifty-two week high of $72.86.

Community Bank System (NYSE:CBU – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The bank reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Community Bank System had a net margin of 26.77% and a return on equity of 11.94%. The firm had revenue of $187.69 million for the quarter, compared to analyst estimates of $177.60 million. During the same quarter in the prior year, the business earned $0.81 EPS. Equities research analysts expect that Community Bank System will post 3.64 EPS for the current fiscal year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Wednesday, March 15th will be given a $0.44 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.58%. Community Bank System’s dividend payout ratio is 50.87%.

Community Bank System Company Profile

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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 lending and depository-related products and services to individuals, businesses, and municipal enterprises.