Research Analysts Offer Predictions for CBU FY2024 Earnings

Community Bank System, Inc. (NYSE:CBU - Free Report) - Stock analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for Community Bank System in a report released on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will earn $3.32 per share for the year, up from their previous estimate of $3.30. The consensus estimate for Community Bank System's current full-year earnings is $3.39 per share.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler started coverage on Community Bank System in a research report on Thursday, December 5th. They issued a "neutral" rating and a $70.00 price objective for the company. Finally, Raymond James upgraded shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 target price on the stock in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $65.25.

Community Bank System Trading Up 2.5 %

Shares of CBU traded up $1.52 during trading hours on Friday, reaching $62.64. The stock had a trading volume of 1,205,918 shares, compared to its average volume of 280,257. The company has a market cap of $3.29 billion, a P/E ratio of 19.51 and a beta of 0.65. Community Bank System has a 52 week low of $41.50 and a 52 week high of $73.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $65.50 and a 200 day moving average of $58.42.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.05). The firm had revenue of $188.94 million for the quarter, compared to analyst estimates of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS.

Institutional Trading of Community Bank System

Hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its stake in shares of Community Bank System by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank's stock valued at $1,256,000 after buying an additional 200 shares in the last quarter. Ausbil Investment Management Ltd acquired a new position in shares of Community Bank System during the 2nd quarter worth about $243,000. Citizens & Northern Corp bought a new stake in shares of Community Bank System in the 2nd quarter valued at about $398,000. IFG Advisory LLC acquired a new stake in Community Bank System in the 2nd quarter valued at about $212,000. Finally, Natixis Advisors LLC grew its holdings in Community Bank System by 22.2% during the second quarter. Natixis Advisors LLC now owns 12,260 shares of the bank's stock worth $579,000 after purchasing an additional 2,226 shares during the period. Institutional investors and hedge funds own 73.79% of the company's stock.

Insider Activity at Community Bank System

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the sale, the director now directly owns 5,823 shares of the company's stock, valued at $425,661.30. The trade was a 40.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.89% of the stock is owned by insiders.

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.94%. Community Bank System's payout ratio is presently 57.32%.

Community Bank System Company Profile

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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.