Community Bank System (NYSE:CBU) Announces Quarterly Earnings Results

Community Bank System (NYSE:CBU) announced its earnings results on Tuesday. The bank reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.13, Briefing.com reports. Community Bank System had a return on equity of 8.93% and a net margin of 16.59%. The company had revenue of $183.80 million for the quarter, compared to analyst estimates of $180.05 million. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year.

Community Bank System Price Performance

Community Bank System stock traded down $0.73 during trading hours on Wednesday, reaching $60.70. 112,425 shares of the stock were exchanged, compared to its average volume of 292,974. The stock has a 50 day moving average of $47.37 and a two-hundred day moving average of $46.48. The company has a market cap of $3.20 billion, a P/E ratio of 19.32 and a beta of 0.65. 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 twelve month low of $35.38 and a twelve month 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. Investors of record on Friday, September 13th will be paid a $0.46 dividend. 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. This is an increase from Community Bank System’s previous quarterly dividend of $0.45. Community Bank System’s payout ratio is 56.60%.

Insider Transactions at Community Bank System

In other Community Bank System news, CEO Dimitar Karaivanov bought 1,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $43.52 per share, for a total transaction of $43,520.00. Following the completion of the purchase, the chief executive officer now directly owns 19,653 shares of the company’s stock, valued at $855,298.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded shares of Community Bank System from an “outperform” rating to a “market perform” rating in a research note 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.