Community Bank System, Inc. (CBU) Declares $0.34 Quarterly Dividend
Community Bank System, Inc. (NYSE:CBU) announced a quarterly dividend on Thursday, November 16th, RTT News reports. Shareholders of record on Friday, December 15th will be given a dividend of 0.34 per share by the bank on Wednesday, January 10th. This represents a $1.36 dividend on an annualized basis and a yield of 2.59%.
Community Bank System has increased its dividend by an average of 4.7% per year over the last three years and has increased its dividend every year for the last 6 years. Community Bank System has a dividend payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Community Bank System to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 50.2%.
Shares of Community Bank System (NYSE:CBU) opened at $52.57 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.08. The company has a market cap of $2,650.40, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. Community Bank System has a twelve month low of $48.89 and a twelve month high of $63.04.
Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $137.30 million during the quarter, compared to analysts’ expectations of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The business’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. equities analysts predict that Community Bank System will post 2.61 EPS for the current fiscal year.
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In related news, Director Brian R. Ace sold 5,457 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total transaction of $291,130.95. Following the transaction, the director now directly owns 55,647 shares in the company, valued at $2,968,767.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director R Kallet Michael sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the transaction, the director now owns 11,603 shares in the company, valued at $614,959. The disclosure for this sale can be found here. Insiders have sold 20,457 shares of company stock valued at $1,085,081 over the last quarter. Corporate insiders own 3.20% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Community Bank System from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. BidaskClub cut shares of Community Bank System from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Piper Jaffray Companies reiterated a “hold” rating and set a $51.00 price objective on shares of Community Bank System in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating on shares of Community Bank System in a report on Wednesday, August 2nd. Finally, DA Davidson set a $55.00 price objective on shares of Community Bank System and gave the company a “hold” rating in a report on Tuesday, October 24th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $55.20.
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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