Community Bank System (NYSE:CBU) Issues Earnings Results

Community Bank System (NYSE:CBU) posted its earnings results on Tuesday. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190,950 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis.

Community Bank System Stock Up 1.0 %

Community Bank System stock opened at $63.21 on Tuesday. The firm 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 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 firm has a 50 day moving average price of $65.31 and a two-hundred day moving average price of $61.10.

Community Bank System Dividend Announcement

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

Insider Activity

In other news, Director John F. Whipple sold 3,937 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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. The trade was a 40.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CBU. Keefe, Bruyette & Woods boosted their price objective on Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a report on Monday, October 28th. Finally, Piper Sandler began coverage on shares of Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 target price on the stock.

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.