Sandler O’Neill Downgrades Community Bank System to Hold

Brokerage firm Sandler O’Neill Downgrades its rating on Community Bank System(NYSE:CBU). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Sandler O’Neill was issued on Jul 22, 2016.

Community Bank System (CBU) shares turned negative on Thursdays trading session with the shares closing down -0.03 points or -0.07% at a volume of 1,18,761. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.41. The peak price level was also seen at $44.41 while the days lowest was $43.75. Finally the shares closed at $44.31. The 52-week high of the shares is $44.475 while the 52-week low is $34.15. According to the latest information available, the market cap of the company is $1,955 M.

Community Bank System(CBU) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $107.08M. Analysts had an estimated revenue of $106.66M. Earnings per share were $0.58. Analysts had estimated an EPS of $0.56.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Nicholas A Dicerbo (director) sold 1,913 shares at $34.15 per share price.Also, 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.

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