Shares of Community Bank System Inc. (NYSE:CBU) traded today at $73.00, eclipsing its 52-week high. Approximately 77,000 shares have changed hands today, as compared to an average 30-day volume of 278,000 shares.
Community Bank System is a financial holding company. The company primarily operates through two wholly-owned subsidiaries: Community Bank, N.A. and Benefit Plans Administrative Services. Community Bank’s business is operating a community bank providing a broad array of banking and financial services. These are offered chiefly to retail, commercial, and municipal customers in nonmetropolitan markets, including small towns in upstate New York and Northeastern Pennsylvania. The company has historically relied on acquisitions to fuel growth, in addition to growing organically. A majority of its loan portfolio is tilted toward the consumer market on an installment, line of credit, or residential mortgage loan basis. The majority of the company’s net revenue is net interest income.
Community Bank System Inc. (NYSE:CBU) is currently priced 2.2% above its average consensus analyst price target of $69.69.
Over the past year, Community Bank System Inc. has traded in a range of $47.01 to $73.00 and is now at $71.28, 52% above that low.
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