Community Bank System, Inc. (CBU) Expected to Post Quarterly Sales of $137.19 Million

Brokerages expect Community Bank System, Inc. (NYSE:CBU) to post sales of $137.19 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Community Bank System’s earnings. The lowest sales estimate is $135.42 million and the highest is $139.38 million. Community Bank System reported sales of $111.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.9%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, April 24th.

According to Zacks, analysts expect that Community Bank System will report full year sales of $137.19 million for the current fiscal year, with estimates ranging from $548.48 million to $566.12 million. For the next year, analysts forecast that the business will report sales of $570.65 million per share, with estimates ranging from $560.02 million to $579.45 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Community Bank System.

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Community Bank System (NYSE:CBU) last released its earnings results on Monday, January 22nd. The bank reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Community Bank System had a net margin of 28.34% and a return on equity of 9.18%. The company had revenue of $139.90 million for the quarter, compared to analysts’ expectations of $138.09 million. During the same quarter in the previous year, the company earned $0.59 EPS. Community Bank System’s revenue for the quarter was up 28.1% on a year-over-year basis.

A number of research analysts recently weighed in on CBU shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 target price on shares of Community Bank System in a research note on Wednesday, January 24th. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $63.00 target price on the stock in a research note on Tuesday, December 26th. Hovde Group upgraded shares of Community Bank System from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Wednesday, March 28th. Boenning Scattergood restated a “hold” rating on shares of Community Bank System in a research note on Monday, January 22nd. Finally, Sandler O’Neill upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Community Bank System has a consensus rating of “Hold” and an average price target of $56.83.

Shares of CBU traded down $0.13 during trading hours on Wednesday, reaching $52.91. 102,281 shares of the stock traded hands, compared to its average volume of 242,845. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.72 and a current ratio of 0.72. Community Bank System has a 52-week low of $48.89 and a 52-week high of $58.80. The stock has a market cap of $2,694.23, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.57%. The ex-dividend date is Wednesday, March 14th. Community Bank System’s payout ratio is currently 48.75%.

A number of hedge funds have recently made changes to their positions in CBU. Millennium Management LLC purchased a new stake in Community Bank System in the 4th quarter worth $14,460,000. BlackRock Inc. lifted its stake in Community Bank System by 4.2% in the 4th quarter. BlackRock Inc. now owns 6,532,176 shares of the bank’s stock worth $351,105,000 after purchasing an additional 262,378 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Community Bank System in the 4th quarter worth $8,674,000. BlueCrest Capital Management Ltd purchased a new stake in Community Bank System in the 4th quarter worth $7,954,000. Finally, Paloma Partners Management Co lifted its stake in Community Bank System by 641.7% in the 4th quarter. Paloma Partners Management Co now owns 70,267 shares of the bank’s stock worth $3,777,000 after purchasing an additional 60,793 shares in the last quarter. Institutional investors and hedge funds own 67.93% of the company’s stock.

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About Community Bank System

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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Earnings History and Estimates for Community Bank System (NYSE:CBU)

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