Community Bank System Inc. (CBU) Sets New 1-Year High at $47.87
Shares of Community Bank System Inc. (NYSE:CBU) reached a new 52-week high during trading on Monday . The company traded as high as $47.87 and last traded at $47.87, with a volume of 123,000 shares. The stock had previously closed at $47.40.
CBU has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Monday, July 25th. Sandler O’Neill downgraded Community Bank System from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Hovde Group increased their price target on Community Bank System from $38.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $41.50.
The company has a market capitalization of $2.12 billion and a PE ratio of 21.74. The stock’s 50 day moving average is $45.00 and its 200 day moving average is $40.77.
Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. During the same period in the prior year, the business posted $0.58 EPS. The firm earned $107.10 million during the quarter, compared to analyst estimates of $106.66 million. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts anticipate that Community Bank System Inc. will post $2.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.67%. This is an increase from Community Bank System’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, September 13th.
In other Community Bank System news, Director Brian R. Ace sold 3,817 shares of Community Bank System stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $43.40, for a total transaction of $165,657.80. Following the completion of the sale, the director now owns 50,275 shares of the company’s stock, valued at approximately $2,181,935. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nicholas A. Dicerbo sold 2,000 shares of Community Bank System stock in a transaction on Monday, July 25th. The shares were sold at an average price of $43.75, for a total transaction of $87,500.00. Following the sale, the director now directly owns 200,921 shares of the company’s stock, valued at approximately $8,790,293.75. The disclosure for this sale can be found here.
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.