Community Bank System, Inc. (CBU) Forecasted to Post Q4 2017 Earnings of $0.89 Per Share

Community Bank System, Inc. (NYSE:CBU) – Stock analysts at Boenning Scattergood upped their Q4 2017 earnings per share estimates for shares of Community Bank System in a research note issued on Wednesday. Boenning Scattergood analyst M. Schultheis now forecasts that the bank will post earnings of $0.89 per share for the quarter, up from their previous estimate of $0.67. Boenning Scattergood also issued estimates for Community Bank System’s FY2018 earnings at $3.29 EPS and FY2019 earnings at $3.39 EPS.

A number of other equities research analysts also recently issued reports on CBU. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, October 25th. DA Davidson set a $55.00 target price on shares of Community Bank System and gave the stock a “hold” rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Sandler O’Neill raised shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $54.00 target price on shares of Community Bank System in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Community Bank System presently has an average rating of “Hold” and an average target price of $55.20.

Community Bank System (CBU) opened at $54.75 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2,750.00, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. Community Bank System has a fifty-two week low of $48.89 and a fifty-two week high of $63.04.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The firm had revenue of $137.30 million for the quarter, compared to analyst estimates of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. Community Bank System’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share.

A number of large investors have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new stake in shares of Community Bank System during the 3rd quarter worth about $594,000. Walthausen & Co. LLC boosted its stake in shares of Community Bank System by 12.4% during the 3rd quarter. Walthausen & Co. LLC now owns 214,486 shares of the bank’s stock worth $11,850,000 after purchasing an additional 23,610 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Community Bank System by 5.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 22,069 shares of the bank’s stock worth $1,219,000 after purchasing an additional 1,184 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Community Bank System during the 3rd quarter worth about $559,000. Finally, Empire Life Investments Inc. boosted its stake in shares of Community Bank System by 17.9% during the 3rd quarter. Empire Life Investments Inc. now owns 7,541 shares of the bank’s stock worth $417,000 after purchasing an additional 1,143 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

In other news, Director Brian R. Ace sold 5,457 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total value of $291,130.95. Following the completion of the transaction, the director now owns 55,647 shares in the company, valued at approximately $2,968,767.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian D. Donahue sold 5,535 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $55.19, for a total transaction of $305,476.65. Following the completion of the transaction, the executive vice president now owns 43,844 shares of the company’s stock, valued at approximately $2,419,750.36. The disclosure for this sale can be found here. Insiders sold a total of 20,492 shares of company stock valued at $1,131,458 in the last 90 days. Company insiders own 3.20% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, December 14th. Community Bank System’s dividend payout ratio is currently 63.85%.

COPYRIGHT VIOLATION WARNING: “Community Bank System, Inc. (CBU) Forecasted to Post Q4 2017 Earnings of $0.89 Per Share” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://www.com-unik.info/2017/12/24/community-bank-system-inc-cbu-forecasted-to-post-q4-2017-earnings-of-0-89-per-share.html.

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.

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

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