Community Bank System, Inc. (NYSE:CBU – Get Rating) – Research analysts at Boenning Scattergood upped their Q2 2022 EPS estimates for shares of Community Bank System in a report issued on Monday, April 25th. Boenning Scattergood analyst E. Zwick now forecasts that the bank will post earnings of $0.78 per share for the quarter, up from their previous estimate of $0.75. Boenning Scattergood also issued estimates for Community Bank System’s Q3 2022 earnings at $0.86 EPS, Q4 2022 earnings at $0.89 EPS and FY2023 earnings at $3.60 EPS.
A number of other research firms also recently issued reports on CBU. StockNews.com assumed coverage on shares of Community Bank System in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded shares of Community Bank System from a “buy” rating to a “hold” rating in a report on Tuesday, March 29th.
Community Bank System (NYSE:CBU – Get Rating) last announced its earnings results on Monday, April 25th. The bank reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. Community Bank System had a net margin of 29.94% and a return on equity of 9.28%. During the same quarter in the prior year, the company posted $0.97 EPS.
The company also recently announced a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Tuesday, March 15th were paid a $0.43 dividend. The ex-dividend date of this dividend was Monday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.57%. Community Bank System’s dividend payout ratio is presently 49.43%.
In related news, insider Jeffrey M. Levy sold 954 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $70.54, for a total value of $67,295.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.63% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in Community Bank System during the fourth quarter worth $29,000. CWM LLC boosted its position in Community Bank System by 683.9% during the first quarter. CWM LLC now owns 439 shares of the bank’s stock worth $31,000 after purchasing an additional 383 shares during the period. Gemmer Asset Management LLC boosted its position in Community Bank System by 115.2% during the first quarter. Gemmer Asset Management LLC now owns 609 shares of the bank’s stock worth $42,000 after purchasing an additional 326 shares during the period. AdvisorNet Financial Inc bought a new position in Community Bank System during the fourth quarter worth $53,000. Finally, Eagle Bay Advisors LLC boosted its position in Community Bank System by 100.0% during the third quarter. Eagle Bay Advisors LLC now owns 1,000 shares of the bank’s stock worth $68,000 after purchasing an additional 500 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.
About Community Bank System (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Community Bank System (CBU)
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