Analysts expect Community Bank System, Inc. (NYSE:CBU) to report sales of $141.52 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Community Bank System’s earnings. The highest sales estimate is $142.72 million and the lowest is $139.18 million. Community Bank System posted sales of $108.42 million in the same quarter last year, which suggests a positive year-over-year growth rate of 30.5%. The business is expected to issue its next quarterly earnings report before the market opens on Monday, October 23rd.
According to Zacks, analysts expect that Community Bank System will report full-year sales of $141.52 million for the current fiscal year, with estimates ranging from $524.80 million to $533.66 million. For the next year, analysts anticipate that the firm will post sales of $575.25 million per share, with estimates ranging from $567.22 million to $586.17 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Community Bank System.
Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Monday, July 31st. The bank reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.13. The business had revenue of $129.26 million during the quarter, compared to analyst estimates of $127.00 million. Community Bank System had a return on equity of 4.78% and a net margin of 13.30%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share.
CBU has been the topic of a number of research reports. BidaskClub lowered shares of Community Bank System from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a research report on Tuesday, September 12th. Piper Jaffray Companies restated a “hold” rating and set a $51.00 target price on shares of Community Bank System in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.80.
In other news, Director R Kallet Michael sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $52.55, for a total transaction of $262,750.00. Following the transaction, the director now directly owns 16,603 shares in the company, valued at $872,487.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian R. Ace sold 5,457 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total transaction of $291,130.95. Following the transaction, the director now owns 55,647 shares in the company, valued at $2,968,767.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,457 shares of company stock worth $1,085,081. Insiders own 3.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Crawford Investment Counsel Inc. acquired a new stake in shares of Community Bank System during the second quarter worth $1,342,000. Comerica Bank lifted its holdings in shares of Community Bank System by 4.6% during the second quarter. Comerica Bank now owns 51,559 shares of the bank’s stock worth $2,812,000 after purchasing an additional 2,254 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Community Bank System by 12.4% during the second quarter. Russell Investments Group Ltd. now owns 91,759 shares of the bank’s stock worth $5,117,000 after purchasing an additional 10,156 shares during the period. Swiss National Bank lifted its holdings in shares of Community Bank System by 14.0% during the second quarter. Swiss National Bank now owns 83,800 shares of the bank’s stock worth $4,674,000 after purchasing an additional 10,300 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Community Bank System by 4.8% during the first quarter. Parametric Portfolio Associates LLC now owns 85,760 shares of the bank’s stock worth $4,715,000 after purchasing an additional 3,928 shares during the period. Institutional investors and hedge funds own 68.98% of the company’s stock.
Shares of Community Bank System (NYSE CBU) traded down 0.72% during mid-day trading on Monday, hitting $55.39. The stock had a trading volume of 164,982 shares. The firm’s 50-day moving average price is $52.96 and its 200 day moving average price is $54.46. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 26.49 and a beta of 1.10. Community Bank System has a 12-month low of $42.67 and a 12-month high of $63.04.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, September 14th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.46%. Community Bank System’s dividend payout ratio (DPR) is 64.15%.
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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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