In yesterday’s Wall Street session, Community Bank System Inc. (NYSE:CBU) shares traded at $54.06, up 4.06% from the previous session.
CBU stock price is now -10.13% away from the 50-day moving average and -14.48% away from the 200-day moving average. The market capitalization of the company currently stands at $2.91B.
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With the price target of $66, Janney recently initiated with Buy rating for Community Bank System Inc. (NYSE: CBU)., while ‘Piper Sandler’ rates the stock as ‘Underweight’.
In other news, ACE BRIAN R, Director sold 483 shares of the company’s stock on Mar 13. The stock was sold for $25,393 at an average price of $52.57. Upon completion of the transaction, the Director now directly owns 63,011 shares in the company, valued at $3.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 13, Director Bolus Mark J. sold 468 shares of the business’s stock. A total of $24,745 was realized by selling the stock at an average price of $52.87. This leaves the insider owning 85,153 shares of the company worth $4.6 million. Insiders disposed of 19,180 shares of company stock worth roughly $1.04 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CBU stock. A new stake in Community Bank System Inc. shares was purchased by WATERFORD ADVISORS, LLC during the first quarter worth $2,425,000. JACOBS ASSET MANAGEMENT, LLC invested $1,790,000 in shares of CBU during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in Community Bank System Inc. valued at approximately $1,301,000. WESBANCO BANK INC acquired a new stake in CBU for approximately $1,250,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND purchased a new stake in CBU valued at around $1,189,000 in the second quarter. In total, there are 339 active investors with 75.30% ownership of the company’s stock.
Tuesday morning saw Community Bank System Inc. (NYSE: CBU) opened at $55.55. During the past 12 months, Community Bank System Inc. has had a low of $48.99 and a high of $73.61. The fifty day moving average price for CBU is $59.97 and a two-hundred day moving average price translates $63.16 for the stock.
The latest earnings results from Community Bank System Inc. (NYSE: CBU) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.97, beating analysts’ expectations of $0.93 by 0.04. This compares to $0.80 EPS in the same period last year. The net profit margin was 42.30% and return on equity was 11.50% for CBU. The company reported revenue of $123.98 million for the quarter, compared to $98.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.58 percent. For the current quarter, analysts expect CBU to generate $167.02M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/10/2023. Investors who held shares on 03/15/2023 were paid a $0.44 dividend. On an annualized basis, this represents a $1.76 dividend and a 3.26% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, CBU is presently at 49.70%.
Community Bank System Inc.(CBU) 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, 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. It also provides loans, including consumer mortgages; general purpose commercial and industrial loans, and mortgages on commercial properties; paycheck protection program loans; installment loans that are originated through selected dealerships and are secured by automobiles, marine, and other recreational vehicles; personal installment loans and lines of credit for consumers; and home equity products. In addition, the company offers broker-dealer and investment advisory; cash management, investment, and treasury services; asset management; and employee benefit services, as well as operates as a full-service insurance agency that offers personal and commercial lines of insurance, and other risk management products and services. Further, it provides contribution plan administration, employee benefit trust, collective investment fund, retirement plan administration, fund administration, transfer agency, actuarial and benefit consulting, VEBA/HRA, and health and welfare consulting services. Additionally, the company offers wealth management, retirement planning, higher educational planning, fiduciary, risk management, trust, and personal financial planning services; and investment alternatives, including stocks, bonds, mutual funds, and advisory products, as well as master recordkeeping services. As of January 24, 2022, it operated approximately 215 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts. Community Bank System, Inc. was founded in 1866 and is headquartered in DeWitt, New York.
