Community Bank System (NYSE:CBU) Trading Down 4.8% - What's Next?

Community Bank System, Inc. (NYSE:CBU - Get Free Report) shares dropped 4.8% on Tuesday . The company traded as low as $55.92 and last traded at $56.02. Approximately 74,060 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 282,302 shares. The stock had previously closed at $58.85.

Wall Street Analysts Forecast Growth

CBU has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $59.00 price objective on shares of Community Bank System in a report on Tuesday, September 10th. Raymond James cut shares of Community Bank System from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $50.50.

Community Bank System Trading Down 1.7 %

The company has a market cap of $3.05 billion, a P/E ratio of 18.19 and a beta of 0.64. The stock's 50-day moving average is $58.88 and its two-hundred day moving average is $52.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.14. The company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $180.05 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, equities research analysts predict that Community Bank System, Inc. will post 3.42 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be given 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 yield of 3.18%. Community Bank System's dividend payout ratio (DPR) is 57.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBU. Point72 DIFC Ltd bought a new position in Community Bank System in the second quarter worth approximately $76,000. Benjamin Edwards Inc. raised its position in Community Bank System by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank's stock worth $162,000 after acquiring an additional 741 shares during the period. IFG Advisory LLC bought a new position in Community Bank System in the second quarter worth approximately $212,000. QRG Capital Management Inc. raised its position in Community Bank System by 4.5% in the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank's stock worth $231,000 after acquiring an additional 212 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Community Bank System in the second quarter worth approximately $231,000. Institutional investors own 73.79% of the company's stock.

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.