Community Bank System, Inc. (CBU) Receives Average Rating of “Hold” from Brokerages
Community Bank System, Inc. (NYSE:CBU) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $53.33.
Several research firms recently weighed in on CBU. BidaskClub lowered Community Bank System from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Piper Jaffray Companies restated a “hold” rating and set a $51.00 price target on shares of Community Bank System in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada increased their target price on Community Bank System from $41.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 16th.
In other Community Bank System news, Director Edward S. Mucenski sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $57.96, for a total value of $173,880.00. Following the completion of the sale, the director now owns 3,186 shares of the company’s stock, valued at $184,660.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CBU. BlackRock Inc. boosted its holdings in Community Bank System by 49,469.3% in the first quarter. BlackRock Inc. now owns 5,424,867 shares of the bank’s stock worth $298,260,000 after acquiring an additional 5,413,923 shares in the last quarter. State Street Corp boosted its holdings in Community Bank System by 69.6% in the second quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after acquiring an additional 2,059,920 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Community Bank System by 7.9% in the second quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock worth $268,165,000 after acquiring an additional 353,538 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Community Bank System by 4.9% in the first quarter. Neuberger Berman Group LLC now owns 2,390,198 shares of the bank’s stock worth $131,413,000 after acquiring an additional 110,843 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Community Bank System by 175.4% in the second quarter. The Manufacturers Life Insurance Company now owns 153,449 shares of the bank’s stock worth $8,558,000 after acquiring an additional 97,732 shares in the last quarter. 69.22% of the stock is owned by institutional investors and hedge funds.
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Community Bank System (CBU) opened at 49.74 on Friday. The stock has a market capitalization of $2.51 billion, a P/E ratio of 23.79 and a beta of 1.09. Community Bank System has a 1-year low of $42.67 and a 1-year high of $63.04. The firm’s 50 day moving average is $52.95 and its 200 day moving average is $55.12.
Community Bank System (NYSE:CBU) last posted its earnings results on Monday, July 31st. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.13. The firm had revenue of $129.26 million during the quarter, compared to the consensus estimate of $127 million. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 EPS. On average, equities research analysts anticipate that Community Bank System will post $2.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.73%. This is an increase from Community Bank System’s previous quarterly dividend of $0.32. Community Bank System’s dividend payout ratio (DPR) is presently 60.38%.
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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