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

Community Bank System, Inc. (NYSE:CBU) announced a quarterly dividend on Wednesday, April 16th, RTT News reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.46 per share by the bank on Thursday, July 10th. This represents a $1.84 annualized dividend and a yield of 3.45%.

Community Bank System has increased its dividend payment by an average of 2.3% per year 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 39.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Community Bank System to earn $4.80 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 38.3%.

Community Bank System Stock Performance

Shares of NYSE CBU traded up $0.24 during midday trading on Wednesday, hitting $53.32. The company’s stock had a trading volume of 323,315 shares, compared to its average volume of 240,471. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System has a 1-year low of $41.50 and a 1-year high of $73.39. The firm’s fifty day moving average price is $58.86 and its 200-day moving average price is $62.12. The firm has a market cap of $2.82 billion, a P/E ratio of 15.50 and a beta of 0.74.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $196.30 million during the quarter, compared to the consensus estimate of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. Community Bank System’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. On average, sell-side analysts forecast that Community Bank System will post 4.18 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price objective on Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd.

Insider Buying and Selling at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the sale, the senior vice president now owns 6,539 shares of the company’s stock, valued at approximately $431,443.22. The trade was a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.01% of the stock is currently owned by company insiders.

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.