Keefe, Bruyette & Woods Issues Positive Forecast for Community Bank System (NYSE:CBU) Stock Price

Community Bank System (NYSE:CBU) had its target price boosted by Keefe, Bruyette & Woods from $74.00 to $76.00 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’ target price indicates a potential upside of 16.04% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price on the stock in a research report on Monday, October 28th. Piper Sandler began coverage on Community Bank System in a research report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price objective on the stock.

Community Bank System Trading Up 3.5 %

NYSE CBU opened at $65.50 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $65.31 and a 200 day simple moving average of $61.10. Community Bank System has a 12 month low of $41.50 and a 12 month high of $73.39. The firm has a market capitalization of $3.44 billion, a P/E ratio of 20.40 and a beta of 0.67.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company had revenue of $196.30 million during the quarter, compared to the consensus estimate of $190,950 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts predict that Community Bank System will post 3.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the sale, the director now owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Community Bank System

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBU. American Century Companies Inc. boosted its holdings in Community Bank System by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 80,834 shares of the bank’s stock worth $3,816,000 after buying an additional 8,360 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Community Bank System by 16.8% during the second quarter. Envestnet Asset Management Inc. now owns 55,679 shares of the bank’s stock worth $2,629,000 after acquiring an additional 8,027 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Community Bank System by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank’s stock worth $83,588,000 after acquiring an additional 142,909 shares during the period. Renaissance Technologies LLC grew its position in shares of Community Bank System by 17.6% in the second quarter. Renaissance Technologies LLC now owns 80,008 shares of the bank’s stock valued at $3,777,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Community Bank System by 41.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,935 shares of the bank’s stock valued at $469,000 after purchasing an additional 2,912 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.