Community Bank System Inc. Declares Quarterly Dividend of $0.32 (CBU)
Community Bank System Inc. (NYSE:CBU) announced a quarterly dividend on Friday, November 18th. Stockholders of record on Thursday, December 15th will be given a dividend of 0.32 per share on Tuesday, January 10th. This represents a $1.28 annualized dividend and a dividend yield of 2.33%.
Community Bank System (NYSE:CBU) traded up 1.18% during midday trading on Friday, hitting $55.54. The stock had a trading volume of 45,472 shares. Community Bank System has a 1-year low of $34.27 and a 1-year high of $55.59. The company has a 50-day moving average of $48.33 and a 200-day moving average of $44.40. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 25.06 and a beta of 0.92.
Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The business had revenue of $108.40 million for the quarter, compared to the consensus estimate of $108.96 million. Community Bank System had a return on equity of 8.42% and a net margin of 22.65%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Equities research analysts forecast that Community Bank System will post $2.32 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Profund Advisors LLC boosted its stake in Community Bank System by 1.3% in the second quarter. Profund Advisors LLC now owns 9,643 shares of the company’s stock valued at $396,000 after buying an additional 123 shares during the last quarter. Raymond James & Associates boosted its position in shares of Community Bank System by 3.6% in the second quarter. Raymond James & Associates now owns 17,938 shares of the company’s stock worth $737,000 after buying an additional 628 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of Community Bank System by 2.5% in the second quarter. Teachers Advisors Inc. now owns 77,518 shares of the company’s stock worth $3,185,000 after buying an additional 1,860 shares during the last quarter. King Luther Capital Management Corp boosted its position in shares of Community Bank System by 0.7% in the second quarter. King Luther Capital Management Corp now owns 97,158 shares of the company’s stock worth $3,992,000 after buying an additional 640 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Community Bank System by 1.2% in the second quarter. American International Group Inc. now owns 32,226 shares of the company’s stock worth $1,324,000 after buying an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 65.11% of the company’s stock.
A number of equities research analysts recently issued reports on CBU shares. Zacks Investment Research downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Sandler O’Neill downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Hovde Group increased their price target on Community Bank System from $38.00 to $43.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $44.00.
Community Bank System Company Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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