Community Bank System, Inc. (NYSE:CBU) Plans $0.46 Quarterly Dividend

Community Bank System, Inc. (NYSE:CBU) announced a quarterly dividend on Wednesday, January 15th,RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.46 per share by the bank on Thursday, April 10th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.96%.

Community Bank System has increased its dividend payment by an average of 2.3% per year over the last three years and has raised its dividend annually for the last 33 consecutive years. Community Bank System has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Community Bank System to earn $3.99 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 46.1%.

Community Bank System Trading Up 1.1 %

Shares of CBU stock traded up $0.65 on Wednesday, hitting $62.25. The stock had a trading volume of 188,736 shares, compared to its average volume of 188,493. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. Community Bank System has a twelve month low of $41.50 and a twelve month high of $73.39. The company has a fifty day moving average price of $65.85 and a two-hundred day moving average price of $60.64. The firm has a market cap of $3.27 billion, a P/E ratio of 19.39 and a beta of 0.67.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $186.35 million. During the same period in the previous year, the firm posted $0.82 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that Community Bank System will post 3.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Community Bank System

In related news, Director John F. Whipple sold 3,937 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.10, for a total transaction of $287,794.70. Following the completion of the sale, the director now directly owns 5,823 shares in the company, valued at $425,661.30. This represents a 40.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.78% of the stock is currently owned by insiders.

About Community Bank System

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.