Community Banking System (NYSE:CBU) upgraded at Zacks Investment Research

Community Banking System (NYSE: CBU – Get Assessed) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released on Monday, Zacks.com reports. The company currently has a price target of $80.00 on the bank’s shares. Zacks Investment Research’s target price would suggest a potential upside of 12.99% from the company’s previous close.

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

NYSE CBU was down $0.24 on Monday, hitting $70.80. 144,595 shares of the company were traded, against an average volume of 220,107. The company has a market capitalization of $3.82 billion, a price-earnings ratio of 20.34 and a beta of 0.68. The stock has a 50-day moving average price of $72.10 and a 200-day moving average price of $72.34. Community Bank System has a fifty-two week low of $65.00 and a fifty-two week high of $82.10.

Community Bank System (NYSE:CBU – Get Rating) last released its results on Monday, January 24. The bank reported earnings per share (EPS) of $0.81 for the quarter, beating consensus analyst estimates of $0.80 by $0.01. The company posted revenue of $159.68 million in the quarter, versus a consensus estimate of $157.27 million. Community Bank System had a net margin of 29.94% and a return on equity of 9.28%. During the same period a year earlier, the company posted earnings per share of $0.85. On average, analysts expect Community Bank System to post EPS of 3.2 for the current fiscal year.

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A number of institutional investors and hedge funds have recently increased or reduced their stake in CBU. Lazard Asset Management LLC bought a new position in Community Bank System in the fourth quarter worth $29,000. AdvisorNet Financial Inc purchased a new stake in shares of Community Bank System during the fourth quarter worth approximately $53,000. Eagle Bay Advisors LLC increased its holdings in Community Bank System by 100.0% in Q3. Eagle Bay Advisors LLC now owns 1,000 shares of the bank valued at $68,000 after buying an additional 500 shares in the last quarter. Van ECK Associates Corp increased its stake in Community Bank System by 59.2% in the third quarter. Van ECK Associates Corp now owns 1,035 shares of the bank valued at $71,000 after buying 385 more shares in the last quarter. Finally, US Asset Management LLC acquired a new position in Community Bank System in Q3 valued at approximately $161,000. 69.60% of the shares are held by institutional investors.

About Community Banking (Get a rating)

Community Bank System, Inc. is a holding company that provides banking services to individuals, businesses and municipalities. It operates through the following segments: Banking, Employee Benefits Services and All Others. The Banking segment offers a range of products and services related to loans and deposits to individuals, businesses and municipal enterprises.

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