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

Community Bank System (NYSE:CBU) released its quarterly earnings data on Tuesday. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04, Zacks reports. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company had revenue of $196.30 million during the quarter, compared to analyst estimates of $190,950 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year.

Community Bank System Trading Up 1.0 %

NYSE:CBU opened at $63.21 on Tuesday. Community Bank System has a one year low of $41.50 and a one year high of $73.39. The business’s 50-day simple moving average is $65.31 and its 200 day simple moving average is $61.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 19.69 and a beta of 0.67.

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s payout ratio is 57.32%.

Insiders Place Their Bets

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the transaction, the director now directly owns 5,823 shares in the company, valued at $425,661.30. This represents a 40.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CBU. Raymond James upgraded 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 report on Monday, October 28th. Piper Sandler began coverage on Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

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.