Community Bank System, Inc. (NYSE:CBU) – Analysts at Piper Sandler increased their Q4 2020 EPS estimates for shares of Community Bank System in a research note issued on Monday, June 29th. Piper Sandler analyst A. Twerdahl now expects that the bank will earn $0.74 per share for the quarter, up from their prior estimate of $0.73. Piper Sandler also issued estimates for Community Bank System’s Q3 2021 earnings at $0.73 EPS and Q4 2021 earnings at $0.73 EPS.
Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, April 20th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Community Bank System had a net margin of 26.82% and a return on equity of 9.20%. The firm had revenue of $148.30 million for the quarter, compared to the consensus estimate of $148.74 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis.
Community Bank System stock opened at $57.02 on Wednesday. Community Bank System has a 12-month low of $47.01 and a 12-month high of $72.63. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 17.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s fifty day moving average price is $57.13 and its 200 day moving average price is $62.86.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 12th. Community Bank System’s payout ratio is currently 49.85%.
In other news, COO Scott Allen Kingsley sold 4,459 shares of Community Bank System stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $60.38, for a total value of $269,234.42. Following the completion of the transaction, the chief operating officer now directly owns 55,135 shares of the company’s stock, valued at approximately $3,329,051.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director R Kallet Michael sold 3,000 shares of Community Bank System stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $60.85, for a total transaction of $182,550.00. Following the completion of the transaction, the director now directly owns 43,909 shares of the company’s stock, valued at $2,671,862.65. The disclosure for this sale can be found here. Insiders sold a total of 15,503 shares of company stock valued at $959,014 in the last three months. Insiders own 2.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Quarterback LLC acquired a new position in shares of Community Bank System in the 4th quarter valued at about $20,360,711,000. BlackRock Inc. boosted its stake in Community Bank System by 2.1% during the 1st quarter. BlackRock Inc. now owns 7,430,123 shares of the bank’s stock valued at $436,892,000 after purchasing an additional 155,907 shares during the period. State Street Corp boosted its stake in Community Bank System by 8.6% during the 1st quarter. State Street Corp now owns 4,314,669 shares of the bank’s stock valued at $255,504,000 after purchasing an additional 342,692 shares during the period. Goldman Sachs Group Inc. boosted its stake in Community Bank System by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,301,135 shares of the bank’s stock valued at $92,302,000 after purchasing an additional 31,816 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in Community Bank System by 0.3% during the 1st quarter. Champlain Investment Partners LLC now owns 1,021,920 shares of the bank’s stock valued at $60,089,000 after purchasing an additional 2,640 shares during the period. 71.95% of the stock is owned by institutional investors and hedge funds.
About Community Bank System
Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.
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