Community Bank System, Inc. (NYSE:CBU) – Boenning Scattergood decreased their Q1 2018 earnings estimates for shares of Community Bank System in a research report issued to clients and investors on Monday. Boenning Scattergood analyst M. Schultheis now expects that the bank will earn $0.72 per share for the quarter, down from their prior forecast of $0.75. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Community Bank System’s Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $0.77 EPS, Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $3.00 EPS and FY2019 earnings at $3.08 EPS.
Several other brokerages also recently weighed in on CBU. Zacks Investment Research downgraded shares of Community Bank System from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $54.00 target price on shares of Community Bank System in a research note on Friday, October 13th. Sandler O’Neill upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $55.80.
Community Bank System (NYSE:CBU) last announced its earnings results on Monday, January 22nd. The bank reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. The business had revenue of $139.90 million during the quarter, compared to the consensus estimate of $138.09 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 28.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share.
Institutional investors have recently bought and sold shares of the company. NJ State Employees Deferred Compensation Plan lifted its position in shares of Community Bank System by 20.0% in the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the bank’s stock worth $663,000 after buying an additional 2,000 shares during the last quarter. Cambridge Trust Co. acquired a new stake in shares of Community Bank System in the 3rd quarter worth about $580,000. Teachers Advisors LLC increased its holdings in shares of Community Bank System by 6.2% in the 2nd quarter. Teachers Advisors LLC now owns 91,545 shares of the bank’s stock worth $5,105,000 after acquiring an additional 5,372 shares during the period. Vanguard Group Inc. increased its holdings in shares of Community Bank System by 7.9% in the 2nd 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 during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of Community Bank System by 4.1% in the 3rd quarter. Macquarie Group Ltd. now owns 1,181,853 shares of the bank’s stock worth $65,297,000 after acquiring an additional 46,753 shares during the period. Institutional investors own 69.19% of the company’s stock.
In other Community Bank System news, EVP Brian D. Donahue sold 5,535 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $55.19, for a total transaction of $305,476.65. Following the transaction, the executive vice president now directly owns 43,844 shares in the company, valued at approximately $2,419,750.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the director now owns 4,103 shares in the company, valued at $231,327.14. The disclosure for this sale can be found here. Insiders have sold a total of 15,440 shares of company stock worth $862,488 over the last quarter. 3.20% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.45%. Community Bank System’s dividend payout ratio (DPR) is 44.88%.
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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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