Community Bank System, Inc. (CBU) To Go Ex-Dividend on March 14th

Community Bank System, Inc. (NYSE:CBU) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.46 per share by the bank on Thursday, April 10th. This represents a $1.84 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, March 14th.

Community Bank System has increased its dividend payment by an average of 2.3% per year over the last three years and has increased its dividend annually for the last 33 consecutive years. Community Bank System has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Community Bank System to earn $3.99 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 46.1%.

Community Bank System Price Performance

CBU opened at $62.48 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 19.46 and a beta of 0.67. The stock’s 50-day moving average price is $65.58 and its 200 day moving average price is $60.67. Community Bank System has a 12-month low of $41.50 and a 12-month high of $73.39.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company had revenue of $188.94 million during the quarter, compared to analyst estimates of $186.35 million. During the same quarter in the previous year, the business posted $0.82 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Community Bank System will post 3.39 earnings per share for the current year.

Analysts Set New Price Targets

CBU has been the subject of a number of research reports. 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 for the company in a research report on Monday, October 28th. Piper Sandler began coverage on shares of Community Bank System in a research report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Community Bank System has a consensus rating of “Hold” and an average price target of $65.25.

Insider Activity

In other news, Director John F. Whipple sold 3,937 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the transaction, the director now directly owns 5,823 shares of the company’s stock, valued at $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.78% of the company’s stock.

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.