FY2024 Earnings Estimate for Community Bank System, Inc. Issued By DA Davidson (NYSE:CBU)

Community Bank System, Inc. (NYSE:CBU) – DA Davidson raised their FY2024 earnings per share (EPS) estimates for shares of Community Bank System in a research report issued to clients and investors on Tuesday, April 30th. DA Davidson analyst M. Navas now anticipates that the bank will earn $3.25 per share for the year, up from their prior forecast of $3.20. 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 $3.22 per share.

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

Community Bank System Trading Up 2.0 %

NYSE:CBU opened at $46.01 on Thursday. Community Bank System has a twelve month low of $35.38 and a twelve month high of $55.64. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $45.13 and a two-hundred day moving average price of $45.97. The company has a market cap of $2.43 billion, a P/E ratio of 14.47 and a beta of 0.66.

Institutional Investors Weigh In On Community Bank System

A number of large investors have recently added to or reduced their stakes in CBU. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Community Bank System by 19.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,515 shares of the bank’s stock valued at $359,000 after acquiring an additional 1,372 shares during the period. Inspire Investing LLC lifted its holdings in shares of Community Bank System by 8.5% during the third quarter. Inspire Investing LLC now owns 7,234 shares of the bank’s stock worth $305,000 after buying an additional 564 shares in the last quarter. AlphaMark Advisors LLC bought a new stake in shares of Community Bank System in the third quarter valued at about $214,000. Nisa Investment Advisors LLC grew its stake in shares of Community Bank System by 16.2% in the third quarter. Nisa Investment Advisors LLC now owns 28,137 shares of the bank’s stock valued at $1,188,000 after acquiring an additional 3,915 shares in the last quarter. Finally, Hamel Associates Inc. increased its position in Community Bank System by 1.2% during the third quarter. Hamel Associates Inc. now owns 59,370 shares of the bank’s stock worth $2,506,000 after acquiring an additional 705 shares during the period. Institutional investors own 73.79% of the company’s stock.

Insider Transactions at Community Bank System

In related news, CEO Dimitar Karaivanov acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were bought at an average price of $43.70 per share, for a total transaction of $43,700.00. Following the purchase, the chief executive officer now directly owns 16,265 shares in the company, valued at approximately $710,780.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mark J. Bolus sold 3,631 shares of the 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 in the company, valued at approximately $4,336,380. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dimitar Karaivanov purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average price of $43.70 per share, for a total transaction of $43,700.00. Following the purchase, the chief executive officer now owns 16,265 shares in the company, valued at approximately $710,780.50. The disclosure for this purchase can be found here. Company insiders own 1.89% of the company’s stock.

Community Bank System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Thursday, March 14th. Community Bank System’s dividend payout ratio is currently 56.60%.

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, 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.