Community Bank System Inc. (CBU) Hits New 52-Week High at $45.35
Community Bank System Inc. (NYSE:CBU) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $45.35 and last traded at $45.28, with a volume of 80,702 shares. The stock had previously closed at $44.18.
CBU has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. Hovde Group upped their target price on shares of Community Bank System from $38.00 to $43.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 26th. Sandler O’Neill downgraded shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Royal Bank Of Canada upped their target price on shares of Community Bank System from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.50.
The company has a market capitalization of $2.00 billion and a PE ratio of 20.54. The firm’s 50-day moving average is $42.01 and its 200-day moving average is $39.34.
Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The company earned $107.10 million during the quarter, compared to analysts’ expectations of $106.66 million. During the same period in the prior year, the business earned $0.58 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts anticipate that Community Bank System Inc. will post $2.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, June 13th.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $43.75, for a total transaction of $87,500.00. Following the transaction, the director now owns 200,921 shares of the company’s stock, valued at approximately $8,790,293.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian R. Ace sold 3,817 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $43.40, for a total transaction of $165,657.80. Following the transaction, the director now directly owns 50,275 shares in the company, valued at approximately $2,181,935. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Swiss National Bank increased its position in Community Bank System by 10.0% in the fourth quarter. Swiss National Bank now owns 59,500 shares of the company’s stock worth $2,376,000 after buying an additional 5,400 shares during the period. Rhumbline Advisers boosted its stake in Community Bank System by 7.3% in the fourth quarter. Rhumbline Advisers now owns 84,370 shares of the company’s stock worth $3,370,000 after buying an additional 5,760 shares in the last quarter. California Public Employees Retirement System boosted its stake in Community Bank System by 2.7% in the fourth quarter. California Public Employees Retirement System now owns 64,520 shares of the company’s stock worth $2,577,000 after buying an additional 1,720 shares in the last quarter. Comerica Bank boosted its stake in Community Bank System by 6.2% in the fourth quarter. Comerica Bank now owns 44,093 shares of the company’s stock worth $1,649,000 after buying an additional 2,562 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Community Bank System by 9.8% in the fourth quarter. Principal Financial Group Inc. now owns 292,757 shares of the company’s stock worth $11,693,000 after buying an additional 26,112 shares in the last quarter.
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.
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