Equities Analysts Issue Forecasts for Community Bank System, Inc.'s FY2024 Earnings (NYSE:CBU)

Community Bank System, Inc. (NYSE:CBU - Free Report) - Stock analysts at DA Davidson increased their FY2024 EPS estimates for Community Bank System in a note issued to investors on Tuesday, April 30th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $3.25 for the year, up from their previous estimate of $3.20. DA Davidson 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.

A number of other research analysts have also recently weighed in on the stock. Raymond James lifted 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. StockNews.com upgraded shares of Community Bank System to a "sell" rating in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $47.67.

Community Bank System Price Performance

Shares of NYSE CBU traded up $0.81 during trading on Thursday, hitting $45.12. The company had a trading volume of 151,905 shares, compared to its average volume of 290,586. The stock has a fifty day simple moving average of $45.08 and a two-hundred day simple moving average of $45.95. Community Bank System has a fifty-two week low of $35.38 and a fifty-two week high of $55.64. The firm has a market capitalization of $2.38 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.

Hedge Funds Weigh In On Community Bank System

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC grew its stake in shares of Community Bank System by 8.5% during the 3rd 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 period. Fulton Bank N.A. grew its stake in Community Bank System by 11.6% in the 4th quarter. Fulton Bank N.A. now owns 5,859 shares of the bank's stock valued at $305,000 after acquiring an additional 607 shares during the last quarter. AlphaMark Advisors LLC grew its stake in Community Bank System by 13.0% in the 4th quarter. AlphaMark Advisors LLC now owns 5,722 shares of the bank's stock valued at $298,000 after acquiring an additional 657 shares during the last quarter. Swiss National Bank grew its stake in Community Bank System by 0.6% in the 3rd quarter. Swiss National Bank now owns 118,100 shares of the bank's stock valued at $4,985,000 after acquiring an additional 700 shares during the last quarter. Finally, Hamel Associates Inc. grew its stake in Community Bank System by 1.2% in the 3rd quarter. Hamel Associates Inc. now owns 59,370 shares of the bank's stock valued at $2,506,000 after acquiring an additional 705 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Community Bank System

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

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were given 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 3.99%. Community Bank System's dividend payout ratio is presently 56.60%.

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.