Community Bank System (NYSE:CBU) Issues Earnings Results

Community Bank System (NYSE:CBU – Get Rating) issued its earnings results on Tuesday. The bank reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01, Briefing.com reports. Community Bank System had a net margin of 26.44% and a return on equity of 10.56%. The company had revenue of $187.69 million during the quarter, compared to analysts’ expectations of $177.60 million. During the same period last year, the company posted $0.81 earnings per share.

Community Bank System Trading Down 2.5 %

NYSE CBU traded down $1.51 during mid-day trading on Wednesday, reaching $58.54. 16,347 shares of the stock were exchanged, compared to its average volume of 192,167. Community Bank System has a 1-year low of $58.28 and a 1-year high of $74.68. The business’s fifty day simple moving average is $62.68 and its 200 day simple moving average is $64.00. The stock has a market capitalization of $3.15 billion, a PE ratio of 18.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Community Bank System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 10th. Investors of record on Thursday, December 15th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.01%. Community Bank System’s dividend payout ratio (DPR) is currently 53.50%.

Institutional Trading of Community Bank System

Hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new stake in Community Bank System during the second quarter worth approximately $32,000. Covestor Ltd boosted its position in Community Bank System by 82.8% during the first quarter. Covestor Ltd now owns 585 shares of the bank’s stock worth $41,000 after acquiring an additional 265 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Community Bank System during the second quarter worth approximately $104,000. Captrust Financial Advisors raised its stake in Community Bank System by 43.6% during the first quarter. Captrust Financial Advisors now owns 3,093 shares of the bank’s stock worth $218,000 after purchasing an additional 939 shares during the period. Finally, Guggenheim Capital LLC raised its stake in Community Bank System by 15.5% during the first quarter. Guggenheim Capital LLC now owns 3,145 shares of the bank’s stock worth $221,000 after purchasing an additional 421 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. DA Davidson dropped their target price on shares of Community Bank System to $59.00 in a report on Thursday, October 27th. Raymond James started coverage on shares of Community Bank System in a research report on Tuesday, December 20th. They issued a “market perform” rating on the stock. StockNews.com lowered shares of Community Bank System from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Finally, Hovde Group lowered their price target on shares of Community Bank System to $67.00 in a research report on Thursday, October 27th.

Community Bank System Company Profile

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Community Bank System, Inc is a holding company, which engages in the provision of retail, business, and municipal banking services. It operates through the following segments: Banking, Employee Benefit Services, and All Other. The Banking segment offers an array of lending and depository-related products and services to individuals, businesses, and municipal enterprises.