Community Bank System Inc. (CBU) Hits New 12-Month High at $45.49
Community Bank System Inc. (NYSE:CBU) reached a new 52-week high during trading on Thursday . The stock traded as high as $45.49 and last traded at $45.28, with a volume of 15,141 shares traded. The stock had previously closed at $45.12.
CBU has been the subject of several recent research reports. Zacks Investment Research raised shares of Community Bank System from a “sell” rating to a “hold” rating in a research report on Monday, June 13th. Sandler O’Neill downgraded shares of Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Hovde Group boosted 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 report on Tuesday, July 26th. Finally, Royal Bank Of Canada upped their price objective on shares of Community Bank System from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.50.
The stock has a market capitalization of $2.02 billion and a price-to-earnings ratio of 20.74. The stock has a 50 day moving average price of $43.53 and a 200 day moving average price of $40.03.
Community Bank System (NYSE:CBU) last posted its 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 posted $0.58 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts predict that Community Bank System Inc. will post $2.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 15th will be given a $0.32 dividend. The ex-dividend date is Tuesday, September 13th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 2.80%.
In other 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 value of $87,500.00. Following the completion of the sale, the director now directly owns 200,921 shares of the company’s stock, valued at approximately $8,790,293.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nicholas A. Dicerbo sold 1,913 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $40.99, for a total transaction of $78,413.87. Following the completion of the sale, the director now directly owns 200,517 shares of the company’s stock, valued at $8,219,191.83. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. 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 valued at $2,577,000 after buying an additional 1,720 shares in the last quarter. 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 valued at $11,693,000 after buying an additional 26,112 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Community Bank System by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,890 shares of the company’s stock valued at $70,012,000 after buying an additional 80,788 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.