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

Community Bank System (NYSE:CBU) issued its quarterly earnings data on Tuesday. The bank reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $180.05 million. During the same period last year, the business earned $0.91 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year.

Community Bank System Trading Up 4.7 %

Shares of CBU stock traded up $2.84 on Thursday, reaching $62.97. 118,093 shares of the stock were exchanged, compared to its average volume of 294,800. 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 has a one year low of $35.38 and a one year high of $63.03. The stock has a market cap of $3.32 billion, a PE ratio of 18.91 and a beta of 0.65. The stock has a 50 day moving average price of $47.89 and a 200 day moving average price of $46.65.

Community Bank System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, September 13th. Community Bank System’s dividend payout ratio (DPR) is presently 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 report on Wednesday.

Insider Activity at Community Bank System

In other news, CEO Dimitar Karaivanov acquired 1,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $43.52 per share, with a total value of $43,520.00. Following the acquisition, 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 filing with the SEC, which can be accessed through the SEC website. 1.89% of the stock is 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.