Community Bank System, Inc. (NYSE:CBU) Expected to Announce Earnings of $0.77 Per Share


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Wall Street analysts forecast that Community Bank System, Inc. (NYSE:CBU) will post $0.77 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Community Bank System’s earnings. The lowest EPS estimate is $0.76 and the highest is $0.78. Community Bank System reported earnings of $0.83 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.2%. The business is scheduled to report its next quarterly earnings report before the market opens on Monday, January 25th.

On average, analysts expect that Community Bank System will report full-year earnings of $3.12 per share for the current fiscal year, with EPS estimates ranging from $3.08 to $3.16. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.85 per share, with EPS estimates ranging from $2.60 to $3.10. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Community Bank System.

Community Bank System (NYSE:CBU) last issued its earnings results on Saturday, October 31st. The bank reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. Community Bank System had a net margin of 25.98% and a return on equity of 8.52%. The business had revenue of $152.60 million during the quarter, compared to analysts’ expectations of $149.78 million. During the same period in the prior year, the business earned $0.84 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year.

Several analysts have recently commented on the company. Piper Sandler lowered their price objective on Community Bank System from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, September 28th. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, December 29th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Community Bank System has an average rating of “Hold” and an average target price of $64.33.

In related news, Director Neil E. Fesette sold 2,200 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $63.27, for a total value of $139,194.00. Following the completion of the transaction, the director now directly owns 6,272 shares in the company, valued at $396,829.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sally A. Steele sold 10,240 shares of the company’s stock in a transaction on Tuesday, December 15th. The shares were sold at an average price of $65.40, for a total value of $669,696.00. Following the completion of the transaction, the director now owns 50,062 shares of the company’s stock, valued at $3,274,054.80. The disclosure for this sale can be found here. Insiders sold 33,543 shares of company stock valued at $2,159,381 over the last three months. 2.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CBU. Bank of Montreal Can raised its stake in shares of Community Bank System by 122.9% during the 2nd quarter. Bank of Montreal Can now owns 10,153 shares of the bank’s stock worth $531,000 after buying an additional 5,598 shares in the last quarter. FMR LLC grew its stake in shares of Community Bank System by 115.8% in the 2nd quarter. FMR LLC now owns 398,742 shares of the bank’s stock valued at $22,736,000 after buying an additional 213,992 shares during the period. Balyasny Asset Management LLC lifted its position in Community Bank System by 18.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 31,586 shares of the bank’s stock valued at $1,801,000 after acquiring an additional 4,998 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Community Bank System during the 2nd quarter worth approximately $349,000. Finally, PDT Partners LLC bought a new position in shares of Community Bank System during the 2nd quarter worth approximately $285,000. Institutional investors and hedge funds own 69.82% of the company’s stock.

Shares of Community Bank System stock traded up $1.71 during trading on Monday, reaching $68.05. 3,937 shares of the company’s stock were exchanged, compared to its average volume of 250,549. Community Bank System has a 1-year low of $47.01 and a 1-year high of $72.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50-day moving average price is $64.23 and its 200 day moving average price is $59.84. The company has a market cap of $3.64 billion, a P/E ratio of 21.89 and a beta of 0.72.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 11th. Stockholders of record on Monday, December 14th were given a $0.42 dividend. The ex-dividend date was Friday, December 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.47%. Community Bank System’s dividend payout ratio is 51.06%.

About Community Bank System

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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