Wall Street analysts expect Community Bank System, Inc. (NYSE:CBU) to report $142.54 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Community Bank System’s earnings, with the lowest sales estimate coming in at $140.10 million and the highest estimate coming in at $143.80 million. Community Bank System reported sales of $139.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The company is expected to announce its next quarterly earnings report on Monday, January 28th.
According to Zacks, analysts expect that Community Bank System will report full-year sales of $570.86 million for the current year, with estimates ranging from $567.60 million to $573.74 million. For the next fiscal year, analysts expect that the company will post sales of $578.59 million, with estimates ranging from $577.81 million to $579.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Community Bank System.
Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. Community Bank System had a return on equity of 10.30% and a net margin of 34.24%. The business had revenue of $141.99 million for the quarter, compared to the consensus estimate of $141.64 million. During the same period in the prior year, the business posted $0.68 earnings per share.
Shares of CBU stock opened at $60.53 on Friday. Community Bank System has a 1 year low of $50.69 and a 1 year high of $67.07. The company has a current ratio of 0.76, a quick ratio of 0.73 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 2.26 and a beta of 0.98.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 13th. This is an increase from Community Bank System’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 2.51%. Community Bank System’s dividend payout ratio is 54.48%.
In other Community Bank System news, Director John F. Whipple sold 2,566 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $66.27, for a total transaction of $170,048.82. Following the sale, the director now directly owns 2,835 shares in the company, valued at $187,875.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.34% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Community Bank System by 7.0% during the second quarter. BlackRock Inc. now owns 7,117,521 shares of the bank’s stock valued at $420,433,000 after buying an additional 465,005 shares during the last quarter. Northern Trust Corp grew its stake in shares of Community Bank System by 1.0% during the second quarter. Northern Trust Corp now owns 1,471,201 shares of the bank’s stock valued at $86,904,000 after buying an additional 15,214 shares during the last quarter. Hermes Investment Management Ltd. bought a new position in shares of Community Bank System during the second quarter valued at approximately $25,349,000. Principal Financial Group Inc. grew its stake in shares of Community Bank System by 2.8% during the first quarter. Principal Financial Group Inc. now owns 394,541 shares of the bank’s stock valued at $21,131,000 after buying an additional 10,635 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Community Bank System by 8.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 315,741 shares of the bank’s stock valued at $18,651,000 after buying an additional 23,971 shares during the last quarter. 70.57% of the stock is currently owned by hedge funds and other institutional investors.
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 financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.
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