DA Davidson Analysts Boost Earnings Estimates for Community Bank System, Inc. (NYSE:CBU)

Community Bank System, Inc. (NYSE:CBU) – Equities research analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Community Bank System in a report released on Tuesday, April 30th. DA Davidson analyst M. Navas now anticipates that the bank will post earnings per share of $3.25 for the year, up from their prior estimate of $3.20. DA Davidson currently has a “Neutral” rating and a $50.00 target price on the stock. The consensus estimate for Community Bank System’s current full-year earnings is $3.21 per share.

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

Community Bank System Stock Performance

NYSE:CBU opened at $44.31 on Thursday. The company has a fifty day moving average of $45.08 and a 200-day moving average of $45.95. The firm has a market capitalization of $2.34 billion, a P/E ratio of 13.93 and a beta of 0.66. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.24. Community Bank System has a twelve month low of $35.38 and a twelve month high of $55.64.

Community Bank System Announces Dividend

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

Insider Transactions at Community Bank System

In other Community Bank System news, CEO Dimitar Karaivanov acquired 1,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $43.70 per share, with a total value of $43,700.00. Following the transaction, the chief executive officer now directly owns 16,265 shares of the company’s stock, valued at approximately $710,780.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Dimitar Karaivanov acquired 1,000 shares of the firm’s stock in a transaction that occurred 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 purchase, 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 available at the SEC website. Also, Director Mark J. Bolus sold 3,631 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $45.00, for a total value of $163,395.00. Following the completion of the sale, the director now owns 96,364 shares of the company’s stock, valued at $4,336,380. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

Institutional Investors Weigh In On Community Bank System

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Community Bank System during the 4th quarter worth $30,870,000. Hsbc Holdings PLC purchased a new stake in shares of Community Bank System in the 4th quarter valued at about $14,612,000. Public Employees Retirement Association of Colorado raised its stake in Community Bank System by 140.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 386,069 shares of the bank’s stock valued at $20,118,000 after acquiring an additional 225,685 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Community Bank System during the 3rd quarter valued at approximately $6,405,000. Finally, Federated Hermes Inc. raised its stake in Community Bank System by 38.5% during the 3rd quarter. Federated Hermes Inc. now owns 470,965 shares of the bank’s stock valued at $19,879,000 after acquiring an additional 130,970 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

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.