Community Bank System’s (NYSE:CBU) Hold Rating Reiterated at Piper Jaffray Companies
Piper Jaffray Companies reissued their hold rating on shares of Community Bank System, Inc. (NYSE:CBU) in a report issued on Thursday. They currently have a $51.00 price objective on the bank’s stock.
A number of other brokerages have also commented on CBU. Royal Bank Of Canada lifted their price target on Community Bank System from $41.00 to $56.00 and gave the company a sector perform rating in a research note on Tuesday, May 16th. BidaskClub lowered Community Bank System from a hold rating to a sell rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $53.60.
Community Bank System (NYSE CBU) traded down 0.90% on Thursday, hitting $55.10. The company had a trading volume of 35,111 shares. The firm has a market capitalization of $2.78 billion, a PE ratio of 26.36 and a beta of 1.07. The firm has a 50-day moving average price of $55.58 and a 200-day moving average price of $56.35. Community Bank System has a 12-month low of $42.67 and a 12-month high of $63.04.
Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, July 31st. The bank reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.13. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The firm had revenue of $129.26 million for the quarter, compared to analyst estimates of $127 million. During the same period last year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that Community Bank System will post $2.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Stockholders of record on Thursday, June 15th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.30%. Community Bank System’s dividend payout ratio (DPR) is 60.38%.
In other news, Director Nicholas A. Dicerbo sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $56.03, for a total transaction of $168,090.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of CBU. LS Investment Advisors LLC increased its position in shares of Community Bank System by 8.2% in the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after buying an additional 137 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Community Bank System by 62.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock worth $105,000 after buying an additional 733 shares during the period. Cutler Group LP increased its position in shares of Community Bank System by 118.7% in the second quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after buying an additional 12,800 shares during the period. Meadow Creek Investment Management LLC bought a new position in shares of Community Bank System during the first quarter worth about $126,000. Finally, Glen Harbor Capital Management LLC bought a new position in shares of Community Bank System during the first quarter worth about $153,000. Institutional investors own 64.32% of the company’s stock.
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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