What is DA Davidson’s Forecast for CBU FY2024 Earnings?

Community Bank System, Inc. (NYSE:CBU) – Analysts at DA Davidson increased their FY2024 earnings per share estimates for Community Bank System in a research report issued on Thursday, December 19th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $3.32 for the year, up from their prior forecast of $3.30. The consensus estimate for Community Bank System’s current full-year earnings is $3.39 per share.

CBU has been the subject of a number of other research reports. Piper Sandler assumed coverage on Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 target price for the company. Keefe, Bruyette & Woods boosted their price objective on Community Bank System from $64.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price on the stock in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.25.

Community Bank System Stock Up 2.5 %

Community Bank System stock opened at $62.64 on Friday. The firm’s 50-day simple moving average is $65.50 and its 200 day simple moving average is $58.51. Community Bank System has a fifty-two week low of $41.50 and a fifty-two week high of $73.39. The stock has a market cap of $3.29 billion, a PE ratio of 19.51 and a beta of 0.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. During the same quarter last year, the business posted $0.82 earnings per share. Community Bank System’s revenue was up 7.7% on a year-over-year basis.

Community Bank System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s dividend payout ratio (DPR) is currently 57.32%.

Insider Transactions at Community Bank System

In other news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the sale, the director now owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. The trade was a 40.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.89% of the company’s stock.

Institutional Trading of Community Bank System

Several institutional investors and hedge funds have recently bought and sold shares of CBU. Louisiana State Employees Retirement System raised its position in shares of Community Bank System by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank’s stock worth $1,256,000 after acquiring an additional 200 shares in the last quarter. Arizona State Retirement System raised its holdings in Community Bank System by 1.8% in the second quarter. Arizona State Retirement System now owns 14,930 shares of the bank’s stock worth $705,000 after purchasing an additional 258 shares in the last quarter. CIBC Asset Management Inc lifted its position in Community Bank System by 6.2% during the second quarter. CIBC Asset Management Inc now owns 5,235 shares of the bank’s stock valued at $247,000 after buying an additional 307 shares during the period. KBC Group NV boosted its holdings in shares of Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after buying an additional 347 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Community Bank System by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,088 shares of the bank’s stock worth $1,373,000 after buying an additional 484 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

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.