Equities research analysts predict that Community Bank System, Inc. (NYSE:CBU) will announce earnings of $0.76 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Community Bank System’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.73. Community Bank System posted earnings per share of $0.82 during the same quarter last year, which would indicate a negative year over year growth rate of 7.3%. The business is expected to report its next quarterly earnings report before the market opens on Monday, April 22nd.
According to Zacks, analysts expect that Community Bank System will report full year earnings of $3.20 per share for the current fiscal year, with EPS estimates ranging from $3.19 to $3.20. For the next financial year, analysts expect that the company will report earnings of $3.34 per share, with EPS estimates ranging from $3.25 to $3.50. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Community Bank System.
Community Bank System (NYSE:CBU) last released its earnings results on Wednesday, January 23rd. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.02). Community Bank System had a net margin of 28.74% and a return on equity of 10.55%. The business had revenue of $141.61 million during the quarter, compared to the consensus estimate of $142.54 million. During the same quarter in the prior year, the firm earned $0.64 EPS.
Several analysts have recently weighed in on the company. Zacks Investment Research cut Community Bank System from a “buy” rating to a “hold” rating in a report on Monday, December 24th. ValuEngine upgraded Community Bank System from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Stephens assumed coverage on Community Bank System in a report on Tuesday, April 9th. They set an “equal weight” rating and a $63.00 price target on the stock. Finally, Boenning Scattergood restated a “hold” rating on shares of Community Bank System in a report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $61.25.
In related news, CEO Mark E. Tryniski sold 11,369 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $62.11, for a total value of $706,128.59. Following the sale, the chief executive officer now directly owns 119,497 shares in the company, valued at $7,421,958.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Kallet Michael sold 6,725 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $62.49, for a total value of $420,245.25. The disclosure for this sale can be found here. Corporate insiders own 2.15% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank bought a new position in Community Bank System in the 4th quarter valued at $32,000. Stone House Investment Management LLC purchased a new position in shares of Community Bank System in the first quarter worth $140,000. Contravisory Investment Management Inc. purchased a new position in shares of Community Bank System in the first quarter worth $155,000. LS Investment Advisors LLC raised its stake in shares of Community Bank System by 86.6% in the fourth quarter. LS Investment Advisors LLC now owns 2,640 shares of the bank’s stock worth $154,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Community Bank System in the third quarter worth $256,000. Institutional investors and hedge funds own 71.09% of the company’s stock.
Community Bank System stock traded down $0.24 during midday trading on Friday, reaching $63.48. The company’s stock had a trading volume of 14,776 shares, compared to its average volume of 181,415. Community Bank System has a 52 week low of $53.24 and a 52 week high of $67.07. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.28 billion, a PE ratio of 18.84, a P/E/G ratio of 2.44 and a beta of 0.92.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.39%. The ex-dividend date was Thursday, March 14th. Community Bank System’s payout ratio is presently 45.10%.
About Community Bank System
Community Bank System, Inc provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. It provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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