Community Bank System, Inc. (CBU) Given Average Rating of “Hold” by Analysts
Shares of Community Bank System, Inc. (NYSE:CBU) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.33.
Several equities research analysts recently weighed in on CBU shares. Zacks Investment Research downgraded shares of Community Bank System from a “strong-buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada reiterated a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. BidaskClub cut shares of Community Bank System from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $51.00 price target on shares of Community Bank System in a research report on Thursday, August 3rd.
Shares of Community Bank System (NYSE CBU) opened at 55.86 on Wednesday. The firm has a market cap of $2.82 billion, a PE ratio of 26.71 and a beta of 1.10. Community Bank System has a 52 week low of $42.67 and a 52 week high of $63.04. The company has a 50 day moving average of $52.33 and a 200 day moving average of $54.39.
Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, July 31st. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.13. The company had revenue of $129.26 million during the quarter, compared to analysts’ expectations of $127.00 million. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 earnings per share. On average, equities research analysts anticipate that Community Bank System will post $2.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Community Bank System’s previous quarterly dividend of $0.32. Community Bank System’s payout ratio is currently 64.15%.
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In other Community Bank System news, Director R Kallet Michael sold 5,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $52.55, for a total value of $262,750.00. Following the sale, the director now directly owns 16,603 shares in the company, valued at $872,487.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian R. Ace sold 5,457 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 20,457 shares of company stock valued at $1,085,081 in the last ninety days. Company insiders own 3.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC boosted its position in shares of Community Bank System by 8.2% during the 2nd quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock valued at $101,000 after purchasing an additional 137 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Community Bank System by 62.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock worth $105,000 after purchasing an additional 733 shares in the last quarter. Cutler Group LP raised its holdings in shares of Community Bank System by 118.7% in the 2nd quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after purchasing an additional 12,800 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of Community Bank System in the 2nd quarter worth approximately $139,000. Finally, Riverhead Capital Management LLC raised its holdings in shares of Community Bank System by 104.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,862 shares of the bank’s stock worth $160,000 after purchasing an additional 1,462 shares in the last quarter. 68.98% of the stock is owned by institutional investors.
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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