Published On: Thu, Sep 8th, 2016

Community Bank System Inc. (CBU) Sees Large Volume Increase

Shares of Community Bank System Inc. (NYSE:CBU) saw unusually-strong trading volume on Wednesday . Approximately 335,651 shares traded hands during mid-day trading, an increase of 177% from the previous session’s volume of 121,112 shares.The stock last traded at $47.67 and had previously closed at $47.34.
A number of research analysts have recently commented on CBU shares. Hovde Group lifted their price objective on shares of Community Bank System from $38.00 to $43.00 and gave the company a “market perform” rating in a research report on Tuesday, July 26th. Sandler O’Neill cut shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Zacks Investment Research upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Community Bank System currently has an average rating of “Hold” and a consensus price target of $41.50.
The stock has a 50 day moving average price of $45.32 and a 200-day moving average price of $40.98. The company has a market capitalization of $2.11 billion and a P/E ratio of 21.65.

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Community Bank System (NYSE:CBU) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. During the same quarter in the previous year, the company posted $0.58 EPS. The business had revenue of $107.10 million for the quarter, compared to analyst estimates of $106.66 million. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast that Community Bank System Inc. will post $2.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.28 annualized dividend and a yield of 2.69%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.31.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $43.75, for a total transaction of $87,500.00. Following the transaction, the director now owns 200,921 shares in the company, valued at $8,790,293.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian R. Ace sold 3,817 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $43.40, for a total transaction of $165,657.80. Following the transaction, the director now owns 50,275 shares in the company, valued at approximately $2,181,935. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.

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