Community Bank System (NYSE:CBU) Announces Earnings Results, Beats Expectations By $0.04 EPS

Community Bank System (NYSE:CBU) posted its quarterly earnings data on Tuesday. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04, Zacks reports. The business had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190,950 billion. Community Bank System had a return on equity of 11.03% and a net margin of 19.40%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share.

Community Bank System Price Performance

CBU opened at $64.87 on Thursday. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 18.86 and a beta of 0.67. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $65.15 and a 200-day moving average price of $61.26. Community Bank System has a twelve month low of $41.50 and a twelve month high of $73.39.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 2.84%. Community Bank System’s dividend payout ratio is presently 53.49%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler started coverage on shares of Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, 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 on the stock in a report on Monday, October 28th.

Insider Buying and Selling

In related news, Director John F. Whipple sold 3,937 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.10, for a total transaction of $287,794.70. Following the sale, the director now owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. This represents a 40.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.89% of the stock is owned by 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.