Community Bank System, Inc. (NYSE:CBU) – Analysts at Boenning Scattergood boosted their FY2017 earnings per share (EPS) estimates for Community Bank System in a research note issued on Wednesday, Zacks Investment Research reports. Boenning Scattergood analyst M. Schultheis now forecasts that the bank will post earnings of $2.85 per share for the year, up from their prior forecast of $2.63. Boenning Scattergood also issued estimates for Community Bank System’s Q1 2018 earnings at $0.78 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.85 EPS and Q4 2018 earnings at $0.83 EPS.
Several other research firms also recently commented on CBU. Zacks Investment Research downgraded Community Bank System from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $54.00 price target on shares of Community Bank System in a research report on Friday, October 13th. Sandler O’Neill raised Community Bank System from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, DA Davidson set a $55.00 price target on Community Bank System and gave the stock a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.80.
Community Bank System (NYSE:CBU) traded up $0.11 during trading on Thursday, hitting $55.63. The stock had a trading volume of 129,841 shares, compared to its average volume of 254,409. Community Bank System has a 52 week low of $48.89 and a 52 week high of $62.59. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2,820.00, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08.
Community Bank System (NYSE:CBU) last posted its earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The company had revenue of $137.30 million for the quarter, compared to the consensus estimate of $138.74 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, December 14th. Community Bank System’s dividend payout ratio is currently 63.85%.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $56.00, for a total transaction of $112,000.00. Following the completion of the sale, the director now directly owns 184,622 shares in the company, valued at $10,338,832. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian D. Donahue sold 5,535 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $55.19, for a total value of $305,476.65. Following the sale, the executive vice president now owns 43,844 shares of the company’s stock, valued at $2,419,750.36. The disclosure for this sale can be found here. Insiders have sold 15,440 shares of company stock worth $862,488 in the last three months. 3.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crawford Investment Counsel Inc. bought a new stake in Community Bank System during the second quarter worth $1,342,000. Comerica Bank lifted its stake in shares of Community Bank System by 4.6% in the 2nd quarter. Comerica Bank now owns 51,559 shares of the bank’s stock valued at $2,812,000 after acquiring an additional 2,254 shares during the last quarter. NJ State Employees Deferred Compensation Plan lifted its stake in shares of Community Bank System by 20.0% in the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the bank’s stock valued at $663,000 after acquiring an additional 2,000 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Community Bank System by 15.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 40,059 shares of the bank’s stock valued at $2,234,000 after acquiring an additional 5,226 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Community Bank System by 14.1% in the 2nd quarter. Principal Financial Group Inc. now owns 415,221 shares of the bank’s stock valued at $23,157,000 after acquiring an additional 51,281 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.
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About Community Bank System
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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