Community Bank System, Inc. (NYSE:CBU) Forecasted to Post Q2 2024 Earnings of $0.83 Per Share

Community Bank System, Inc. (NYSE:CBU) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Community Bank System in a report issued on Tuesday, April 30th. DA Davidson analyst M. Navas anticipates that the bank will post earnings of $0.83 per share for the quarter. DA Davidson has a “Neutral” rating and a $50.00 price objective on the stock. The consensus estimate for Community Bank System’s current full-year earnings is $3.21 per share. DA Davidson also issued estimates for Community Bank System’s FY2025 earnings at $3.35 EPS.

A number of other research analysts have also issued reports on the company. StockNews.com raised Community Bank System to a “sell” rating in a report on Friday, January 19th. Raymond James boosted their target price on Community Bank System from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Community Bank System has an average rating of “Hold” and an average target price of $47.67.

Community Bank System Price Performance

Shares of NYSE CBU opened at $44.31 on Wednesday. The stock has a market cap of $2.34 billion, a P/E ratio of 13.93 and a beta of 0.66. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $45.08 and a two-hundred day moving average of $45.95. Community Bank System has a twelve month low of $35.38 and a twelve month high of $55.64.

Institutional Trading of Community Bank System

Large investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in Community Bank System by 14.0% in the fourth quarter. Federated Hermes Inc. now owns 536,844 shares of the bank’s stock valued at $27,975,000 after purchasing an additional 65,879 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Community Bank System by 15.7% in the third quarter. Deutsche Bank AG now owns 26,617 shares of the bank’s stock valued at $1,124,000 after acquiring an additional 3,619 shares in the last quarter. Tudor Investment Corp Et Al lifted its position in shares of Community Bank System by 62.7% in the third quarter. Tudor Investment Corp Et Al now owns 113,604 shares of the bank’s stock valued at $4,795,000 after acquiring an additional 43,766 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Community Bank System by 11.6% in the fourth quarter. Fulton Bank N.A. now owns 5,859 shares of the bank’s stock valued at $305,000 after acquiring an additional 607 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Community Bank System in the third quarter valued at $810,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Insider Buying and Selling

In other Community Bank System news, CEO Dimitar Karaivanov acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average price of $43.70 per share, with a total value of $43,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 16,265 shares of the company’s stock, valued at approximately $710,780.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Community Bank System news, Director Mark J. Bolus sold 3,631 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $45.00, for a total value of $163,395.00. Following the sale, the director now owns 96,364 shares of the company’s stock, valued at $4,336,380. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dimitar Karaivanov bought 1,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was purchased at an average cost of $43.70 per share, for a total transaction of $43,700.00. Following the acquisition, the chief executive officer now directly owns 16,265 shares of the company’s stock, valued at approximately $710,780.50. The disclosure for this purchase can be found here. 1.78% of the stock is currently owned by corporate insiders.

Community Bank System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Thursday, March 14th. Community Bank System’s dividend payout ratio is presently 56.60%.

Community Bank System Company Profile

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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.