Zacks: Analysts Anticipate Community Bank System, Inc. (NYSE:CBU) Will Post Earnings of $0.80 Per Share

Analysts expect Community Bank System, Inc. (NYSE:CBU) to report earnings per share (EPS) of $0.80 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Community Bank System’s earnings. The lowest EPS estimate is $0.79 and the highest is $0.82. Community Bank System posted earnings of $0.90 per share in the same quarter last year, which indicates a negative year over year growth rate of 11.1%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Monday, July 22nd.

According to Zacks, analysts expect that Community Bank System will report full year earnings of $3.28 per share for the current fiscal year, with EPS estimates ranging from $3.20 to $3.36. For the next year, analysts expect that the business will post earnings of $3.38 per share, with EPS estimates ranging from $3.30 to $3.54. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Community Bank System.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.81 EPS for the quarter, beating the consensus estimate of $0.76 by $0.05. Community Bank System had a net margin of 28.93% and a return on equity of 10.49%. The company had revenue of $142.60 million for the quarter, compared to analyst estimates of $142.48 million. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up .3% on a year-over-year basis.

CBU has been the topic of several recent research reports. Zacks Investment Research lowered shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. Stephens initiated coverage on shares of Community Bank System in a report on Tuesday, April 9th. They issued an “equal weight” rating and a $63.00 price target on the stock. Finally, ValuEngine raised shares of Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Community Bank System presently has a consensus rating of “Hold” and a consensus target price of $67.50.

In other news, Director Brian R. Ace sold 4,471 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $65.78, for a total transaction of $294,102.38. Following the sale, the director now directly owns 61,910 shares of the company’s stock, valued at approximately $4,072,439.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R Kallet Michael sold 3,100 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $64.83, for a total transaction of $200,973.00. Following the sale, the director now directly owns 52,909 shares in the company, valued at $3,430,090.47. The disclosure for this sale can be found here. Corporate insiders own 2.15% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its holdings in shares of Community Bank System by 81.4% during the 1st quarter. Toronto Dominion Bank now owns 987 shares of the bank’s stock worth $59,000 after buying an additional 443 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Community Bank System during the 1st quarter worth approximately $140,000. Contravisory Investment Management Inc. acquired a new stake in shares of Community Bank System during the 1st quarter worth approximately $155,000. Diversified Trust Co acquired a new stake in shares of Community Bank System during the 2nd quarter worth approximately $221,000. Finally, Bank of Montreal Can increased its holdings in shares of Community Bank System by 24.0% during the 1st quarter. Bank of Montreal Can now owns 5,294 shares of the bank’s stock worth $317,000 after buying an additional 1,026 shares during the last quarter. 71.31% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:CBU traded up $0.37 during mid-day trading on Friday, hitting $64.66. The company’s stock had a trading volume of 3,134 shares, compared to its average volume of 168,601. Community Bank System has a 1 year low of $54.46 and a 1 year high of $67.79. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.33 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.46 and a beta of 0.99. The business’s fifty day moving average price is $64.43.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Thursday, June 13th. Community Bank System’s payout ratio is currently 45.10%.

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, 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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Earnings History and Estimates for Community Bank System (NYSE:CBU)

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