Equities analysts expect Community Bank System, Inc. (NYSE:CBU) to announce sales of $143.85 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Community Bank System’s earnings, with the lowest sales estimate coming in at $143.42 million and the highest estimate coming in at $144.20 million. Community Bank System reported sales of $143.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.3%. The business is scheduled to announce its next earnings report before the market opens on Monday, July 22nd.
According to Zacks, analysts expect that Community Bank System will report full-year sales of $590.02 million for the current year, with estimates ranging from $586.70 million to $592.20 million. For the next year, analysts expect that the business will report sales of $622.07 million, with estimates ranging from $614.70 million to $630.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Community Bank System.
Community Bank System (NYSE:CBU) last issued its earnings results on Monday, April 22nd. The bank reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.05. The firm had revenue of $142.60 million during the quarter, compared to analysts’ expectations of $142.48 million. Community Bank System had a net margin of 28.93% and a return on equity of 10.49%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share.
CBU has been the subject of a number of research reports. ValuEngine upgraded shares of Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Stephens initiated coverage on shares of Community Bank System in a report on Tuesday, April 9th. They set an “equal weight” rating and a $63.00 target price for the company. Finally, Zacks Investment Research cut shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Community Bank System presently has a consensus rating of “Hold” and an average price target of $67.50.
In related news, Director Brian R. Ace sold 4,471 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $65.78, for a total value of $294,102.38. Following the completion of the sale, the director now owns 61,910 shares in the company, valued at approximately $4,072,439.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Kallet Michael sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $64.83, for a total transaction of $200,973.00. Following the completion of the sale, the director now owns 52,909 shares of the company’s stock, valued at approximately $3,430,090.47. The disclosure for this sale can be found here. 2.15% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its position in shares of Community Bank System by 1.0% in the 1st quarter. State of Alaska Department of Revenue now owns 17,295 shares of the bank’s stock valued at $1,033,000 after acquiring an additional 175 shares in the last quarter. Empire Life Investments Inc. lifted its position in Community Bank System by 3.6% in the 1st quarter. Empire Life Investments Inc. now owns 8,560 shares of the bank’s stock worth $512,000 after buying an additional 297 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Community Bank System by 4.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,307 shares of the bank’s stock worth $481,000 after buying an additional 322 shares in the last quarter. Arizona State Retirement System lifted its position in Community Bank System by 0.4% in the 1st quarter. Arizona State Retirement System now owns 79,165 shares of the bank’s stock worth $4,732,000 after buying an additional 339 shares in the last quarter. Finally, Anchor Capital Advisors LLC lifted its position in Community Bank System by 0.8% in the 1st quarter. Anchor Capital Advisors LLC now owns 45,732 shares of the bank’s stock worth $2,733,000 after buying an additional 343 shares in the last quarter. Institutional investors and hedge funds own 71.31% of the company’s stock.
NYSE:CBU traded down $0.21 during trading hours on Monday, reaching $64.42. 164,810 shares of the company’s stock were exchanged, compared to its average volume of 160,380. The stock has a market cap of $3.32 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.47 and a beta of 0.99. Community Bank System has a 12 month low of $54.46 and a 12 month high of $67.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a 50-day moving average price of $64.52.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, June 13th. Community Bank System’s payout ratio is 45.10%.
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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