Community Bank System (NYSE:CBU) Rating Lowered to Market Perform at Raymond James

Community Bank System (NYSE:CBU) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, MarketBeat reports.

Community Bank System Trading Up 4.1 %

Shares of NYSE:CBU opened at $62.57 on Wednesday. The stock has a market capitalization of $3.30 billion, a PE ratio of 19.68 and a beta of 0.65. Community Bank System has a 1 year low of $35.38 and a 1 year high of $63.03. The firm has a fifty day moving average price of $47.89 and a 200 day moving average price of $46.65. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. The firm had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $180.05 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.99%. Community Bank System’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts expect that Community Bank System will post 3.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dimitar Karaivanov bought 1,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $43.52 per share, with a total value of $43,520.00. Following the transaction, the chief executive officer now directly owns 19,653 shares in the company, valued at $855,298.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Community Bank System during the 1st quarter worth $592,000. Trexquant Investment LP raised its position in shares of Community Bank System by 466.5% during the fourth quarter. Trexquant Investment LP now owns 31,816 shares of the bank’s stock valued at $1,658,000 after buying an additional 26,200 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Community Bank System during the first quarter valued at about $583,000. Vanguard Group Inc. raised its position in shares of Community Bank System by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 6,596,018 shares of the bank’s stock valued at $343,718,000 after buying an additional 43,001 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Community Bank System by 14.0% during the fourth quarter. Federated Hermes Inc. now owns 536,844 shares of the bank’s stock valued at $27,975,000 after buying an additional 65,879 shares during the last quarter. Institutional investors and hedge funds 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.