Community Bank System (NYSE:CBU) Issues Earnings Results

Community Bank System (NYSE:CBU) released its quarterly earnings results on Tuesday. The bank reported $0.95 EPS for the quarter, topping the consensus estimate of $0.81 by $0.14, Briefing.com reports. Community Bank System had a return on equity of 8.99% and a net margin of 15.90%. The business had revenue of $183.80 million during the quarter, compared to analyst estimates of $180.05 million. During the same period last year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis.

Community Bank System Stock Up 4.1 %

Shares of CBU stock traded up $2.46 during trading hours on Thursday, reaching $62.59. 381,743 shares of the stock were exchanged, compared to its average volume of 296,687. The business’s fifty day moving average is $47.89 and its two-hundred day moving average is $46.65. The firm has a market capitalization of $3.30 billion, a P/E ratio of 18.91 and a beta of 0.65. Community Bank System has a 12-month low of $35.38 and a 12-month high of $63.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.74 and a quick ratio of 0.74.

Community Bank System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 13th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Community Bank System’s previous quarterly dividend of $0.45. Community Bank System’s dividend payout ratio (DPR) is presently 56.60%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CEO Dimitar Karaivanov acquired 1,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $43.52 per share, with a total value of $43,520.00. Following the transaction, the chief executive officer now owns 19,653 shares in the company, valued at approximately $855,298.56. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.89% of the stock is 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.