Equities research analysts predict that Community Bank System, Inc. (NYSE:CBU) will post $150.06 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Community Bank System’s earnings, with the lowest sales estimate coming in at $149.30 million and the highest estimate coming in at $150.81 million. Community Bank System posted sales of $141.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The company is scheduled to announce its next quarterly earnings results on Wednesday, January 22nd.
On average, analysts expect that Community Bank System will report full year sales of $589.97 million for the current year, with estimates ranging from $589.20 million to $590.74 million. For the next financial year, analysts anticipate that the company will report sales of $622.75 million, with estimates ranging from $619.20 million to $626.29 million. Zacks’ sales 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 Monday, October 21st. The bank reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. The firm had revenue of $148.40 million for the quarter, compared to the consensus estimate of $150.53 million. Community Bank System had a return on equity of 9.86% and a net margin of 27.57%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS.
Shares of CBU stock traded up $0.26 during trading hours on Tuesday, reaching $69.01. The company’s stock had a trading volume of 142,788 shares, compared to its average volume of 197,431. The firm’s 50 day simple moving average is $64.32 and its 200-day simple moving average is $63.98. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 20.48 and a beta of 1.00. Community Bank System has a fifty-two week low of $54.46 and a fifty-two week high of $69.50. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.18.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were issued a dividend of $0.41 per share. This is an increase from Community Bank System’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, September 13th. This represents a $1.64 annualized dividend and a dividend yield of 2.38%. Community Bank System’s dividend payout ratio (DPR) is 48.66%.
In related news, Director Eric Stickels sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $68.12, for a total transaction of $204,360.00. Following the sale, the director now owns 37,664 shares of the company’s stock, valued at approximately $2,565,671.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.15% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. raised its position in Community Bank System by 4.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,307 shares of the bank’s stock worth $481,000 after purchasing an additional 322 shares during the last quarter. Diversified Trust Co bought a new position in Community Bank System during the 2nd quarter worth $221,000. Oregon Public Employees Retirement Fund raised its position in Community Bank System by 2.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,224 shares of the bank’s stock worth $1,332,000 after purchasing an additional 400 shares during the last quarter. Nottingham Advisors Inc. raised its position in Community Bank System by 1.4% during the 2nd quarter. Nottingham Advisors Inc. now owns 158,049 shares of the bank’s stock worth $10,406,000 after purchasing an additional 2,153 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Community Bank System by 1.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 17,542 shares of the bank’s stock worth $1,154,000 after purchasing an additional 247 shares during the last quarter. 70.97% of the stock is currently owned by institutional investors.
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, 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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