Regional banking company Community Financial System (NYSE: CBU) will be announcing earnings results this Tuesday morning. Here’s what to look for.
Community Bank missed analysts’ revenue expectations last quarter, reporting revenues of $218.9 million, up 9.9% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ tangible book value per share estimates.
Is Community Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Community Bank’s revenue to grow 9.9% year on year, in line with the 9.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Community Bank has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Community Bank’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Byline Bancorp delivered year-on-year revenue growth of 4.6%, beating analysts’ expectations by 3.7%, and First Citizens BancShares reported flat revenue, topping estimates by 2%. Byline Bancorp traded up 1.1% following the results.
Read our full analysis of Byline Bancorp’s results here and First Citizens BancShares’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Community Bank is up 3.2% during the same time and is heading into earnings with an average analyst price target of $69 (compared to the current share price of $62.42).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
