Community Bank System (NYSE:CBU) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Community Bank System (NYSE:CBU) issued its quarterly earnings results on Tuesday. The bank reported $0.95 earnings per share 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 firm had revenue of $183.80 million for the quarter, compared to the consensus estimate of $180.05 million. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis.

Community Bank System Stock Down 2.1 %

Community Bank System stock opened at $60.12 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 18.91 and a beta of 0.65. Community Bank System has a 1-year low of $35.38 and a 1-year high of $62.49. The business has a fifty day moving average price of $47.65 and a 200-day moving average price of $46.55.

Community Bank System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.06%. The ex-dividend date 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 56.60%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO Dimitar Karaivanov acquired 1,000 shares of Community Bank System stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of $43.52 per share, for a total transaction of $43,520.00. Following the purchase, the chief executive officer now owns 19,653 shares of the company’s stock, valued at approximately $855,298.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.89% of the stock is currently owned by company insiders.

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.