Community Bank System, Inc. (NYSE:CBU) Expected to Announce Quarterly Sales of $149.72 Million

Friday, June 11, 2021 | MarketBeat

Wall Street analysts predict that Community Bank System, Inc. (NYSE:CBU) will announce $149.72 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Community Bank System's earnings. The highest sales estimate is $151.54 million and the lowest is $147.80 million. Community Bank System reported sales of $144.89 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The firm is expected to announce its next earnings report on Monday, July 26th.

On average, analysts expect that Community Bank System will report full-year sales of $607.39 million for the current fiscal year, with estimates ranging from $598.90 million to $615.78 million. For the next year, analysts forecast that the business will post sales of $616.80 million, with estimates ranging from $610.70 million to $620.83 million. Zacks Investment Research's sales calculations 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 Sunday, April 25th. The bank reported $0.97 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.80 by $0.17. The company had revenue of $152.49 million during the quarter, compared to analyst estimates of $153.44 million. Community Bank System had a net margin of 28.69% and a return on equity of 8.98%. During the same quarter in the prior year, the business earned $0.77 earnings per share.

Separately, Zacks Investment Research upgraded shares of Community Bank System from a "hold" rating to a "buy" rating and set a $87.00 price target for the company in a research report on Monday, May 3rd.

CBU opened at $78.95 on Friday. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 24.07 and a beta of 0.71. The firm's 50-day moving average is $79.10. Community Bank System has a fifty-two week low of $51.41 and a fifty-two week high of $82.53.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 9th. Shareholders of record on Tuesday, June 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Monday, June 14th. Community Bank System's dividend payout ratio (DPR) is presently 52.01%.

In other Community Bank System news, Director Kerrie D. Macpherson acquired 439 shares of the company's stock in a transaction on Thursday, May 20th. The shares were acquired at an average cost of $79.81 per share, with a total value of $35,036.59. Following the completion of the acquisition, the director now directly owns 1,482 shares in the company, valued at $118,278.42. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.63% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in Community Bank System by 0.7% in the first quarter. Principal Financial Group Inc. now owns 374,267 shares of the bank's stock valued at $28,714,000 after purchasing an additional 2,575 shares in the last quarter. Millennium Management LLC purchased a new stake in Community Bank System in the first quarter valued at approximately $4,306,000. Canada Pension Plan Investment Board purchased a new stake in Community Bank System in the first quarter valued at approximately $2,532,000. Eaton Vance Management raised its stake in Community Bank System by 61.2% in the first quarter. Eaton Vance Management now owns 869,708 shares of the bank's stock valued at $66,724,000 after purchasing an additional 330,211 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Community Bank System by 78.4% in the first quarter. Jane Street Group LLC now owns 7,621 shares of the bank's stock valued at $585,000 after purchasing an additional 3,350 shares in the last quarter. 70.11% 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, 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 deposit accounts, as well as time deposits.

Recommended Story: How to identify percentage decliners

Get a free copy of the Zacks research report on Community Bank System (CBU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is a Call Option?


7 Great Dividend Stocks to Buy For a Comfortable Retirement

There are people who will say the day of set it and forget it retirement accounts are over. But it’s a narrative we’ve heard before. The truth is the formula for saving for and enjoying a comfortable retirement, like the formula for weight loss, hasn’t really changed. A lot depends on whether an individual has the discipline to see it through.

Dividend stocks remain one of the core elements of a retirement portfolio. As individuals near retirement the ability to reinvest dividends allows for a greater total return. And once individuals need to live off their portfolio, the dividends provide a source of income without having to tap their principal.

However, not all dividend stocks are the same and many investors get sucked in by the allure of a high-yield dividend stock. But what you’re really looking for are companies with a history of increasing its dividend. The ability to increase a dividend over time illustrates that the company has a business model that can hold up regardless of how the broader economy is performing.

In this special presentation, we’ll highlight seven stocks that individuals can buy today to capture a stable, recurring dividend.

View the "7 Great Dividend Stocks to Buy For a Comfortable Retirement".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.