Community Bank System (CBU) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Jul 22, 2016.
Many Wall Street Analysts have commented on Community Bank System. Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 39 from a previous price target of $37 .
On the company’s financial health, Community Bank System reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.56. The company had revenue of $107.10 million for the quarter, compared to analysts expectations of $106.71 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Community Bank System closed down -0.02 points or -0.05% at $42.68 with 97,719 shares getting traded on Wednesday. Post opening the session at $42.88, the shares hit an intraday low of $42.35 and an intraday high of $43.05 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 31, 2016, Nicholas A Dicerbo (director) sold 1,913 shares at $34.15 per share price. According to the SEC, on Apr 29, 2016, Brian D Donahue (EVP & Chief Banking Officer) sold 8,084 shares at $39.75 per share price. On Mar 10, 2016, James A Gabriel (director) sold 3,817 shares at $38.68 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.