Community Bank System (NYSE:CBU) Posts Earnings Results, Misses Estimates By $0.05 EPS

Community Bank System (NYSE:CBU) released its quarterly earnings results on Tuesday. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05), Yahoo Finance reports. The firm had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share.

Community Bank System Price Performance

Shares of NYSE CBU opened at $57.86 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $58.88 and a two-hundred day simple moving average of $52.30. Community Bank System has a 1-year low of $35.38 and a 1-year high of $63.95. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 18.19 and a beta of 0.64.

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.18%. Community Bank System’s dividend payout ratio (DPR) is presently 57.86%.

Analyst Upgrades and Downgrades

CBU has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $59.00 target price on shares of Community Bank System in a research note on Tuesday, September 10th. Raymond James cut Community Bank System from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.50.

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.