Equities analysts expect that Community Bank System, Inc. (NYSE:CBU) will report $138.73 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Community Bank System’s earnings, with the lowest sales estimate coming in at $137.50 million and the highest estimate coming in at $140.08 million. Community Bank System posted sales of $109.19 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.1%. The company is expected to announce its next quarterly earnings report on Monday, January 22nd.
On average, analysts expect that Community Bank System will report full year sales of $138.73 million for the current fiscal year, with estimates ranging from $516.79 million to $525.37 million. For the next financial year, analysts expect that the company will report sales of $556.72 million per share, with estimates ranging from $549.05 million to $564.29 million. Zacks Investment Research’s 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, October 23rd. The bank reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The firm had revenue of $137.30 million during the quarter, compared to the consensus estimate of $138.74 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 26.7% on a year-over-year basis.
CBU has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, October 25th. DA Davidson set a $55.00 target price on shares of Community Bank System and gave the company a “hold” rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $54.00 target price on shares of Community Bank System in a research note on Friday, October 13th. Finally, BidaskClub downgraded shares of Community Bank System from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Community Bank System has a consensus rating of “Hold” and an average price target of $55.20.
Shares of Community Bank System (CBU) traded down $0.89 during trading hours on Wednesday, reaching $53.97. 222,227 shares of the company’s stock traded hands, compared to its average volume of 183,717. Community Bank System has a 1 year low of $48.89 and a 1 year high of $63.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $2,778.19, a P/E ratio of 20.26, a PEG ratio of 2.10 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Thursday, December 14th. Community Bank System’s dividend payout ratio (DPR) is currently 62.10%.
In other Community Bank System news, Director Brian R. Ace sold 5,457 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total value of $291,130.95. Following the completion of the sale, the director now owns 55,647 shares in the company, valued at $2,968,767.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Kallet Michael sold 7,500 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $56.38, for a total transaction of $422,850.00. Following the completion of the sale, the director now owns 4,103 shares of the company’s stock, valued at approximately $231,327.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,957 shares of company stock valued at $1,507,931. 3.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Community Bank System by 11.2% during the 2nd quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock worth $336,527,000 after buying an additional 609,319 shares during the last quarter. State Street Corp lifted its stake in shares of Community Bank System by 69.6% during the 2nd quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after buying an additional 2,059,920 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Community Bank System by 7.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock worth $268,165,000 after buying an additional 353,538 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Community Bank System by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,896,653 shares of the bank’s stock worth $104,789,000 after buying an additional 21,213 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Community Bank System by 6.8% during the 2nd quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock worth $81,410,000 after buying an additional 92,700 shares during the last quarter. Institutional investors own 69.21% of the company’s stock.
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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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