Community Bank System (NYSE:CBU) Issues Earnings Results

Community Bank System (NYSE:CBU) released its quarterly earnings results on Tuesday. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04, Zacks reports. Community Bank System had a net margin of 19.40% and a return on equity of 11.03%. The firm had revenue of $196.30 million during the quarter, compared to analyst estimates of $190,950 billion. During the same quarter last year, the business earned $0.76 EPS. The company’s revenue was up 10.8% compared to the same quarter last year.

Community Bank System Trading Down 0.7 %

Shares of Community Bank System stock opened at $64.87 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System has a 52 week low of $41.50 and a 52 week high of $73.39. The stock has a 50 day moving average price of $65.15 and a two-hundred day moving average price of $61.26. The stock has a market capitalization of $3.41 billion, a PE ratio of 18.86 and a beta of 0.67.

Community Bank System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio (DPR) is currently 53.49%.

Insider Buying and Selling

In related news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the transaction, the director now owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. Keefe, Bruyette & Woods lifted their target price on Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Piper Sandler started coverage on Community Bank System in a report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 target price for the company.

Community Bank System 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, 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.