Equities analysts forecast that Community Bank System, Inc. (NYSE:CBU) will post $137.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Community Bank System’s earnings, with estimates ranging from $135.42 million to $139.38 million. Community Bank System posted sales of $111.59 million during the same quarter last year, which would indicate a positive year over year growth rate of 22.9%. The company is expected to report its next quarterly earnings report on Monday, April 23rd.
According to Zacks, analysts expect that Community Bank System will report full year sales of $137.19 million for the current year, with estimates ranging from $548.48 million to $566.12 million. For the next fiscal year, analysts anticipate that the business will post sales of $570.65 million per share, with estimates ranging from $560.02 million to $579.45 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Community Bank System.
Community Bank System (NYSE:CBU) last issued its earnings results on Monday, January 22nd. The bank reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The company had revenue of $139.90 million during the quarter, compared to analyst estimates of $138.09 million. Community Bank System had a return on equity of 9.18% and a net margin of 28.34%. The business’s revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS.
Several brokerages have recently commented on CBU. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 target price on shares of Community Bank System in a research report on Wednesday, January 24th. Sandler O’Neill upgraded Community Bank System from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Boenning Scattergood reiterated a “hold” rating on shares of Community Bank System in a research report on Monday, January 22nd. Finally, Zacks Investment Research raised Community Bank System from a “hold” rating to a “strong-buy” rating and set a $63.00 price target on the stock in a report on Tuesday, December 26th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.60.
Community Bank System (CBU) opened at $56.55 on Friday. The company has a market capitalization of $2,865.41, a P/E ratio of 18.85, a PEG ratio of 1.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72. Community Bank System has a 12-month low of $48.89 and a 12-month high of $58.80.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Thursday, March 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, March 14th. Community Bank System’s dividend payout ratio (DPR) is 45.33%.
In related news, EVP Brian D. Donahue sold 5,535 shares of the firm’s stock in a transaction that occurred 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 approximately $2,419,750.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. raised its stake in Community Bank System by 4.1% during the 3rd quarter. Macquarie Group Ltd. now owns 1,181,853 shares of the bank’s stock valued at $65,297,000 after acquiring an additional 46,753 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Community Bank System during the 3rd quarter valued at $536,000. Principal Financial Group Inc. raised its stake in Community Bank System by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 421,316 shares of the bank’s stock valued at $23,277,000 after acquiring an additional 6,095 shares in the last quarter. Pinebridge Investments L.P. raised its stake in Community Bank System by 17.4% during the 4th quarter. Pinebridge Investments L.P. now owns 69,489 shares of the bank’s stock valued at $3,735,000 after acquiring an additional 10,290 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Community Bank System by 3.3% during the 4th quarter. Champlain Investment Partners LLC now owns 785,200 shares of the bank’s stock valued at $42,205,000 after acquiring an additional 25,095 shares in the last quarter. 67.98% of the stock is currently owned by institutional investors and hedge funds.
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Community Bank System Company Profile
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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