Community Bank System (NYSE:CBU) Given New $76.00 Price Target at Keefe, Bruyette & Woods

Community Bank System (NYSE:CBU) had its target price raised by Keefe, Bruyette & Woods from $74.00 to $76.00 in a report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

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

Community Bank System Stock Up 0.8 %

Shares of NYSE CBU opened at $65.50 on Wednesday. The stock has a market capitalization of $3.44 billion, a P/E ratio of 19.04 and a beta of 0.67. The company has a 50-day moving average price of $65.01 and a 200-day moving average price of $61.42. Community Bank System has a 1 year low of $41.50 and a 1 year high of $73.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $196.30 million during the quarter, compared to analysts’ expectations of $190,950 billion. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. On average, equities research analysts forecast that Community Bank System will post 4.01 EPS for the current fiscal year.

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio is 53.49%.

Insiders Place Their Bets

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the sale, the director now owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.89% of the company’s stock.

Institutional Trading of Community Bank System

Several hedge funds have recently added to or reduced their stakes in CBU. American Century Companies Inc. raised its position in Community Bank System by 11.5% in the second quarter. American Century Companies Inc. now owns 80,834 shares of the bank’s stock worth $3,816,000 after acquiring an additional 8,360 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Community Bank System by 16.8% in the second quarter. Envestnet Asset Management Inc. now owns 55,679 shares of the bank’s stock valued at $2,629,000 after purchasing an additional 8,027 shares during the period. Dimensional Fund Advisors LP raised its position 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 valued at $83,588,000 after purchasing an additional 142,909 shares during the period. Renaissance Technologies LLC raised 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 during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Community Bank System by 41.5% in the second 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.