Community Bank System, Inc. (NYSE:CBU) to Issue Quarterly Dividend of $0.46

Community Bank System, Inc. (NYSE:CBU) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Investors 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 dividend yield of 2.96%.

Community Bank System has raised its dividend by an average of 2.3% annually over the last three years and has increased its dividend annually for the last 33 consecutive years. Community Bank System has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.1 %

NYSE CBU opened at $62.25 on Thursday. Community Bank System has a 52 week low of $41.50 and a 52 week high of $73.39. 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’s 50 day moving average price is $65.68 and its two-hundred day moving average price is $60.66. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 19.39 and a beta of 0.67.

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

Insider Buying and Selling at Community Bank System

In other news, Director John F. Whipple sold 3,937 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the transaction, the director now directly owns 5,823 shares of the company’s stock, valued at $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CBU shares. Piper Sandler assumed coverage on shares of Community Bank System in a research note on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective for the company. Keefe, Bruyette & Woods increased their price target on Community Bank System from $64.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James raised 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 research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.25.

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.