Community Bank System Inc. (CBU) Sets New 1-Year High at $47.30
Community Bank System Inc. (NYSE:CBU) reached a new 52-week high during trading on Tuesday . The stock traded as high as $47.30 and last traded at $47.22, with a volume of 135,987 shares changing hands. The stock had previously closed at $46.90.
CBU has been the subject of several recent research reports. Zacks Investment Research upgraded Community Bank System from a “sell” rating to a “hold” rating in a report on Monday, June 13th. 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 boosted their price objective 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 analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.50.
The company has a market capitalization of $2.09 billion and a price-to-earnings ratio of 21.44. The stock has a 50 day moving average of $44.58 and a 200 day moving average of $40.62.
Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $107.10 million for the quarter, compared to the consensus estimate of $106.66 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. Community Bank System’s revenue was up 17.8% compared to the same quarter last year. Analysts forecast that Community Bank System Inc. will post $2.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 15th will be given a dividend of $0.32 per share. This is a boost from Community Bank System’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.28 annualized dividend and a yield of 2.71%.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was 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 owns 200,921 shares in the company, valued at approximately $8,790,293.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian R. Ace sold 3,817 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $43.40, for a total value 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 disclosure for this sale can be found here.
An institutional investor recently raised its position in Community Bank System stock. California Public Employees Retirement System raised its stake in Community Bank System Inc. (NYSE:CBU) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,520 shares of the company’s stock after buying an additional 1,720 shares during the period. California Public Employees Retirement System owned 0.15% of Community Bank System worth $2,577,000 at the end of the most recent 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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