Community Bank System (CBU) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 39

Community Bank System (CBU) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 39 from a previous price target of $37 . RBC Capital Mkts advised their investors in a research report released on Apr 26, 2016.

On the company’s financial health, Community Bank System reported $0.55 EPS for the quarter, based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus estimate of $0.55. The company had revenue of $105.20 million for the quarter, compared to analysts expectations of $104.17 million. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Community Bank System opened for trading at $39.46 and hit $39.93 on the upside on Friday, eventually ending the session at $39.84, with a gain of 1.22% or 0.48 points. The heightened volatility saw the trading volume jump to 1,54,865 shares. Company has a market cap of $1,748 M.

In a different news, on Mar 10, 2016, James A Gabriel (director) sold 3,817 shares at $38.68 per share price. According to the SEC, on Jan 28, 2016, John Parente (director) purchased 8,600 shares at $35.10 per share price. On Nov 10, 2015, Nicholas A Dicerbo (director) sold 4,516 shares at $42.86 per share price, according to the Form-4 filing with the securities and exchange commission.

Community Bank System Inc. is a single bank holding company. The Company owns five subsidiaries: Community Bank N.A. (CBNA) Benefit Plans Administrative Services Inc. (BPAS) CFSI Closeout Corp. (CFSICC) First of Jermyn Realty Company Inc. (FJRC) and Town & Country Agency LLC (T&C). It operates in three segments: banking which provides an array of lending and depository-related products and services; Employee benefit services segment which is engaged in providing employee benefit trust collective investment fund retirement plan administration actuarial VEBA or HRA and health and welfare consulting services and Wealth management services which include trust services provided by the personal trust unit of CBNA investment and insurance products and services provided by CISI and CBNA Insurance and asset advisory services provided by Nottingham. It offers retail and business banking services insurance and benefits consulting services.

Community Bank System

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