Community Bank System Inc. (CBU) PT Raised to $43.00 at Hovde Group
Community Bank System Inc. (NYSE:CBU) had its price objective increased by analysts at Hovde Group from $38.00 to $43.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “market perform” rating on the stock. Hovde Group’s price objective indicates a potential downside of 10.25% from the company’s previous close.
Several other research analysts have also recently commented on CBU. Royal Bank Of Canada raised their target price on Community Bank System from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Monday, March 28th. Zacks Investment Research cut Community Bank System from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Finally, Sandler O’Neill cut Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Five analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $41.50.
Community Bank System (NYSE:CBU) traded down 0.48% during trading on Tuesday, hitting $47.91. 98,480 shares of the stock traded hands. Community Bank System has a 52 week low of $34.27 and a 52 week high of $48.38. The firm’s 50-day moving average is $47.17 and its 200 day moving average is $42.41. The stock has a market cap of $2.12 billion, a P/E ratio of 21.76 and a beta of 0.95.
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Community Bank System (NYSE:CBU) last issued its earnings results on Wednesday, July 20th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm earned $107.10 million during the quarter, compared to analysts’ expectations of $106.66 million. Community Bank System had a return on equity of 8.64% and a net margin of 22.93%. Community Bank System’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business earned $0.58 earnings per share. Equities research analysts forecast that Community Bank System will post $2.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is a boost from Community Bank System’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.67%. Community Bank System’s dividend payout ratio (DPR) is presently 58.18%.
In related news, Director Brian R. Ace sold 3,817 shares of Community Bank System stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $43.40, for a total value of $165,657.80. Following the completion of the transaction, the director now directly owns 50,275 shares of the company’s stock, valued at $2,181,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas A. Dicerbo sold 2,000 shares of Community Bank System stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $43.75, for a total value of $87,500.00. Following the completion of the transaction, the director now directly owns 200,921 shares of the company’s stock, valued at $8,790,293.75. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBU. C M Bidwell & Associates Ltd. boosted its position in Community Bank System by 1.0% in the first quarter. C M Bidwell & Associates Ltd. now owns 4,515 shares of the company’s stock worth $173,000 after buying an additional 45 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Community Bank System by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the company’s stock worth $801,000 after buying an additional 100 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Community Bank System by 2.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,016 shares of the company’s stock worth $206,000 after buying an additional 118 shares in the last quarter. Profund Advisors LLC boosted its position in Community Bank System by 1.3% in the second quarter. Profund Advisors LLC now owns 9,643 shares of the company’s stock worth $396,000 after buying an additional 123 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its position in Community Bank System by 4.4% in the second quarter. PineBridge Investments L.P. now owns 5,595 shares of the company’s stock worth $230,000 after buying an additional 234 shares in the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.
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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