FY2024 Earnings Estimate for Community Bank System, Inc. Issued By DA Davidson (NYSE:CBU)

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

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

Community Bank System Stock Performance

Shares of NYSE:CBU opened at $44.31 on Thursday. The firm has a 50 day moving average of $45.08 and a 200 day moving average of $45.95. The company has a market capitalization of $2.34 billion, a price-to-earnings 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 52 week low of $35.38 and a 52 week high of $55.64.

Community Bank System Dividend Announcement

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

Insider Transactions at Community Bank System

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

Institutional Trading of Community Bank System

Several hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Community Bank System by 19.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,515 shares of the bank’s stock worth $359,000 after buying an additional 1,372 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Community Bank System by 8.5% during the third quarter. Inspire Investing LLC now owns 7,234 shares of the bank’s stock worth $305,000 after purchasing an additional 564 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in Community Bank System in the third quarter valued at approximately $214,000. Nisa Investment Advisors LLC boosted its holdings in Community Bank System by 16.2% in the third quarter. Nisa Investment Advisors LLC now owns 28,137 shares of the bank’s stock valued at $1,188,000 after acquiring an additional 3,915 shares during the last quarter. Finally, Hamel Associates Inc. lifted its stake in Community Bank System by 1.2% in the third quarter. Hamel Associates Inc. now owns 59,370 shares of the bank’s stock valued at $2,506,000 after buying an additional 705 shares during the period. 73.79% of the stock is currently owned by institutional investors and hedge funds.

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, 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.