Community Bank System, Inc. (NYSE:CBU) – Stock analysts at DA Davidson increased their FY2017 earnings estimates for Community Bank System in a research note issued to investors on Tuesday. DA Davidson analyst R. Gunther now forecasts that the bank will post earnings of $2.62 per share for the year, up from their prior forecast of $2.60. DA Davidson currently has a “Hold” rating and a $55.00 target price on the stock. DA Davidson also issued estimates for Community Bank System’s Q3 2018 earnings at $0.67 EPS, Q1 2019 earnings at $0.64 EPS and Q3 2019 earnings at $0.72 EPS.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Community Bank System from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub downgraded shares of Community Bank System from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Piper Jaffray Companies reissued a “hold” rating and issued a $51.00 price target on shares of Community Bank System in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $54.00 price target on shares of Community Bank System in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Community Bank System has an average rating of “Hold” and a consensus price target of $53.83.

COPYRIGHT VIOLATION WARNING: “Community Bank System, Inc. (CBU) to Post FY2017 Earnings of $2.62 Per Share, DA Davidson Forecasts” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/25/community-bank-system-inc-cbu-to-post-fy2017-earnings-of-2-62-per-share-da-davidson-forecasts.html.

Community Bank System (CBU) opened at 53.74 on Wednesday. Community Bank System has a 12-month low of $45.79 and a 12-month high of $63.04. The firm has a market cap of $2.72 billion, a PE ratio of 25.70 and a beta of 1.10. The stock has a 50 day moving average of $53.75 and a 200 day moving average of $54.55.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The company had revenue of $137.30 million during the quarter, compared to analysts’ expectations of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.53%. This is an increase from Community Bank System’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, September 14th. Community Bank System’s payout ratio is currently 62.10%.

In other Community Bank System news, Director Brian R. Ace sold 5,457 shares of Community Bank System stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total transaction of $291,130.95. Following the transaction, the director now directly owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Kallet Michael sold 5,000 shares of Community Bank System stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, the director now directly owns 11,603 shares in the company, valued at $614,959. The disclosure for this sale can be found here. Insiders have sold a total of 20,457 shares of company stock worth $1,085,081 over the last ninety days. Insiders own 3.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CBU. Crawford Investment Counsel Inc. bought a new stake in shares of Community Bank System during the 2nd quarter worth $1,342,000. Comerica Bank raised its stake in shares of Community Bank System by 4.6% during the 2nd 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. State Board of Administration of Florida Retirement System raised its stake in shares of Community Bank System by 15.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 40,059 shares of the bank’s stock worth $2,234,000 after purchasing an additional 5,226 shares during the period. Principal Financial Group Inc. raised its stake in shares of Community Bank System by 14.1% during the 2nd quarter. Principal Financial Group Inc. now owns 415,221 shares of the bank’s stock worth $23,157,000 after purchasing an additional 51,281 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Community Bank System by 12.4% during the 2nd 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. 68.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Community Bank System (NYSE:CBU)

Receive News & Ratings for Community Bank System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.