Community Bank System (CBU) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $0.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.56. The company posted revenue of $107.10 million in the period, compared to analysts expectations of $106.71 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Many Wall Street Analysts have commented on Community Bank System. Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 39 from a previous price target of $37 .
Community Bank System closed down -0.47 points or -1.09% at $42.69 with 1,17,726 shares getting traded on Monday. Post opening the session at $43.21, the shares hit an intraday low of $42.65 and an intraday high of $43.34 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 31, 2016, Nicholas A Dicerbo (director) sold 1,913 shares at $34.15 per share price. According to the SEC, on Apr 29, 2016, Brian D Donahue (EVP & Chief Banking Officer) sold 8,084 shares at $39.75 per share price. On Mar 10, 2016, James A Gabriel (director) sold 3,817 shares at $38.68 per share price, according to the Form-4 filing with the securities and exchange commission.
Community Bank System Inc. is a single bank holding company. The Company owns five subsidiaries: Community Bank N.A. (CBNA) Benefit Plans Administrative Services Inc. (BPAS) CFSI Closeout Corp. (CFSICC) First of Jermyn Realty Company Inc. (FJRC) and Town & Country Agency LLC (T&C). It operates in three segments: banking which provides an array of lending and depository-related products and services; Employee benefit services segment which is engaged in providing employee benefit trust collective investment fund retirement plan administration actuarial VEBA or HRA and health and welfare consulting services and Wealth management services which include trust services provided by the personal trust unit of CBNA investment and insurance products and services provided by CISI and CBNA Insurance and asset advisory services provided by Nottingham. It offers retail and business banking services insurance and benefits consulting services.