Zacks Investment Research cut shares of Community Bank System (NYSE:CBU) from a strong-buy rating to a sell rating in a research note published on Thursday, Zacks.com reports.

According to Zacks, “Community Bank System, Inc. is a bank holding company. “

Several other equities research analysts have also commented on CBU. Stephens initiated coverage on shares of Community Bank System in a research note on Tuesday, April 9th. They set an equal weight rating and a $63.00 price objective on the stock. ValuEngine raised shares of Zuora from a hold rating to a buy rating in a research note on Saturday, July 6th.

NYSE:CBU opened at $65.67 on Thursday. Community Bank System has a one year low of $54.46 and a one year high of $67.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.82 and a quick ratio of 0.75. The business’s 50-day simple moving average is $64.82. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.52 and a beta of 0.99.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Community Bank System had a net margin of 28.64% and a return on equity of 10.10%. The business had revenue of $149.00 million for the quarter, compared to analyst estimates of $144.08 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Community Bank System’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that Community Bank System will post 3.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th were issued a $0.38 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.52 annualized dividend and a yield of 2.31%. Community Bank System’s dividend payout ratio (DPR) is presently 45.10%.

In other Community Bank System news, Director R Kallet Michael sold 3,100 shares of Community Bank System stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $64.83, for a total value of $200,973.00. Following the completion of the transaction, the director now directly owns 52,909 shares of the company’s stock, valued at $3,430,090.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian R. Ace sold 4,471 shares of Community Bank System stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $65.78, for a total transaction of $294,102.38. Following the completion of the transaction, the director now directly owns 61,910 shares of the company’s stock, valued at $4,072,439.80. The disclosure for this sale can be found here. 2.15% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of CBU. Dimensional Fund Advisors LP raised its holdings in shares of Community Bank System by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,956,626 shares of the bank’s stock valued at $114,071,000 after purchasing an additional 14,872 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Community Bank System by 2.6% during the first quarter. Champlain Investment Partners LLC now owns 806,220 shares of the bank’s stock valued at $48,188,000 after purchasing an additional 20,570 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Community Bank System by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 554,374 shares of the bank’s stock valued at $32,320,000 after purchasing an additional 54,515 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Community Bank System by 7.5% during the fourth quarter. Principal Financial Group Inc. now owns 448,764 shares of the bank’s stock valued at $26,163,000 after purchasing an additional 31,410 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Community Bank System during the fourth quarter valued at approximately $23,160,000. 71.17% of the stock is owned by institutional investors and hedge funds.

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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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