Community Bank System, Inc. (CBU) Earns “Hold” Rating from Piper Jaffray Companies
Piper Jaffray Companies reiterated their hold rating on shares of Community Bank System, Inc. (NYSE:CBU) in a research note published on Thursday morning. Piper Jaffray Companies currently has a $51.00 target price on the bank’s stock.
Several other analysts have also recently commented on the stock. BidaskClub cut shares of Community Bank System from a hold rating to a sell rating in a research note on Saturday, June 24th. Royal Bank Of Canada boosted their price target on shares of Community Bank System from $41.00 to $56.00 and gave the stock a sector perform rating in a research note on Tuesday, May 16th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Community Bank System currently has an average rating of Hold and an average target price of $53.60.
Shares of Community Bank System (CBU) traded up 1.35% on Thursday, hitting $55.60. The stock had a trading volume of 87,065 shares. The stock has a market cap of $2.81 billion, a PE ratio of 26.60 and a beta of 1.07. Community Bank System has a 12 month low of $42.67 and a 12 month high of $63.04. The company has a 50 day moving average price of $55.58 and a 200-day moving average price of $56.35.
Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, July 31st. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.60 by $0.13. The business had revenue of $129.26 million for the quarter, compared to analysts’ expectations of $127 million. Community Bank System had a net margin of 20.63% and a return on equity of 9.04%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. On average, equities research analysts anticipate that Community Bank System will post $2.56 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, July 10th. Stockholders of record on Thursday, June 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.30%. Community Bank System’s dividend payout ratio (DPR) is presently 60.38%.
In other news, Director Nicholas A. Dicerbo sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $56.03, for a total value of $168,090.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC increased its stake in Community Bank System by 8.2% in the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after buying an additional 137 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Community Bank System by 62.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock worth $105,000 after buying an additional 733 shares during the period. Cutler Group LP increased its stake in Community Bank System by 118.7% in the second quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after buying an additional 12,800 shares during the period. Meadow Creek Investment Management LLC acquired a new stake in Community Bank System during the first quarter worth $126,000. Finally, Glen Harbor Capital Management LLC acquired a new stake in Community Bank System during the first quarter worth $153,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
Community Bank System Company Profile
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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