Community Bank System (NYSE:CBU) Releases Earnings Results, Beats Expectations By $0.13 EPS

Community Bank System (NYSE:CBU) announced its earnings results on Tuesday. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.13, Briefing.com reports. The business had revenue of $183.80 million during the quarter, compared to analyst estimates of $180.05 million. Community Bank System had a net margin of 16.59% and a return on equity of 8.93%. Community Bank System’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share.

Community Bank System Trading Down 1.2 %

Shares of NYSE:CBU traded down $0.73 during trading on Wednesday, reaching $60.70. 112,425 shares of the company traded hands, compared to its average volume of 292,974. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 19.32 and a beta of 0.65. The business’s fifty day moving average is $47.37 and its 200-day moving average is $46.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Community Bank System has a 52-week low of $35.38 and a 52-week high of $62.49.

Community Bank System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be paid a $0.46 dividend. This is a boost from Community Bank System’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, September 13th. Community Bank System’s payout ratio is 56.60%.

Insider Buying and Selling

In related news, CEO Dimitar Karaivanov purchased 1,000 shares of Community Bank System stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $43.52 per share, for a total transaction of $43,520.00. Following the completion of the transaction, the chief executive officer now directly owns 19,653 shares of the company’s stock, valued at $855,298.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.89% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Raymond James lowered Community Bank System from an “outperform” rating to a “market perform” rating in a research report on Wednesday.

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.