Community Bank System (NYSE:CBU) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Community Bank System (NYSE:CBUGet Rating) posted its quarterly earnings results on Tuesday. The bank reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01, Briefing.com reports. Community Bank System had a net margin of 26.44% and a return on equity of 10.56%. The business had revenue of $187.69 million during the quarter, compared to analyst estimates of $177.60 million. During the same period in the previous year, the business posted $0.81 EPS.

Community Bank System Price Performance

Shares of CBU stock traded down $1.51 during midday trading on Wednesday, reaching $58.54. 16,347 shares of the company were exchanged, compared to its average volume of 192,167. Community Bank System has a 12 month low of $58.28 and a 12 month high of $74.68. The company has a market cap of $3.15 billion, a P/E ratio of 18.25 and a beta of 0.67. The company’s 50 day moving average price is $62.68 and its two-hundred day moving average price is $64.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 10th. Shareholders of record on Thursday, December 15th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, December 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.01%. Community Bank System’s dividend payout ratio (DPR) is 53.50%.

Institutional Trading of Community Bank System

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Bay Advisors LLC bought a new stake in shares of Community Bank System during the 2nd quarter worth about $32,000. Covestor Ltd raised its position in shares of Community Bank System by 82.8% during the 1st quarter. Covestor Ltd now owns 585 shares of the bank’s stock worth $41,000 after buying an additional 265 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Community Bank System during the 2nd quarter worth about $104,000. Captrust Financial Advisors raised its holdings in shares of Community Bank System by 43.6% in the 1st quarter. Captrust Financial Advisors now owns 3,093 shares of the bank’s stock worth $218,000 after purchasing an additional 939 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of Community Bank System by 15.5% in the 1st quarter. Guggenheim Capital LLC now owns 3,145 shares of the bank’s stock worth $221,000 after purchasing an additional 421 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CBU. DA Davidson reduced their target price on shares of Community Bank System to $59.00 in a research note on Thursday, October 27th. Hovde Group reduced their target price on shares of Community Bank System to $67.00 in a research note on Thursday, October 27th. StockNews.com lowered shares of Community Bank System from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Raymond James began coverage on shares of Community Bank System in a research note on Tuesday, December 20th. They set a “market perform” rating for the company.

About Community Bank System

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Community Bank System, Inc is a holding company, which engages in the provision of retail, business, and municipal banking services. It operates through the following segments: Banking, Employee Benefit Services, and All Other. The Banking segment offers an array of lending and depository-related products and services to individuals, businesses, and municipal enterprises.

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Earnings History for Community Bank System (NYSE:CBU)

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