Community Bank System, Inc. Expected to Earn Q3 2024 Earnings of $0.83 Per Share (NYSE:CBU)

Community Bank System, Inc. (NYSE:CBU) – Analysts at DA Davidson raised their Q3 2024 earnings estimates for shares of Community Bank System in a research report issued to clients and investors on Tuesday, September 10th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $0.83 per share for the quarter, up from their previous estimate of $0.82. The consensus estimate for Community Bank System’s current full-year earnings is $3.34 per share. DA Davidson also issued estimates for Community Bank System’s FY2025 earnings at $3.60 EPS.

CBU has been the subject of a number of other research reports. Raymond James lowered shares of Community Bank System from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $59.00 target price on shares of Community Bank System in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.50.

Community Bank System Stock Performance

Shares of NYSE:CBU opened at $56.59 on Wednesday. The business has a fifty day moving average of $57.58 and a 200-day moving average of $49.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System has a twelve month low of $35.38 and a twelve month high of $63.95. The firm has a market cap of $2.99 billion, a PE ratio of 17.66 and a beta of 0.64.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.14. The firm had revenue of $183.80 million during the quarter, compared to the consensus estimate of $180.05 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.

Institutional Trading of Community Bank System

A number of institutional investors have recently bought and sold shares of CBU. Russell Investments Group Ltd. lifted its stake in shares of Community Bank System by 4.7% in the 4th quarter. Russell Investments Group Ltd. now owns 50,255 shares of the bank’s stock valued at $2,619,000 after purchasing an additional 2,276 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Community Bank System by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 591,913 shares of the bank’s stock worth $30,845,000 after buying an additional 32,459 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Community Bank System during the 4th quarter worth about $262,000. Dimensional Fund Advisors LP increased its stake in shares of Community Bank System by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,582,679 shares of the bank’s stock valued at $82,475,000 after acquiring an additional 91,165 shares during the last quarter. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Community Bank System in the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 13th will be issued a $0.46 dividend. This is a positive change from Community Bank System’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, September 13th. Community Bank System’s dividend payout ratio is currently 57.86%.

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.