Community Bank System (NYSE:CBU) Posts Earnings Results, Beats Expectations By $0.04 EPS

Community Bank System (NYSE:CBU) released its quarterly earnings data on Tuesday. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04, Zacks reports. The firm had revenue of $196.30 million during the quarter, compared to analysts’ expectations of $190,950 billion. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share.

Community Bank System Trading Up 1.0 %

Shares of CBU stock opened at $63.21 on Tuesday. The stock has a 50 day simple moving average of $65.31 and a 200 day simple moving average of $61.10. Community Bank System has a 1 year low of $41.50 and a 1 year high of $73.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.32 billion, a P/E ratio of 19.69 and a beta of 0.67.

Community Bank System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be given a $0.46 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.91%. Community Bank System’s payout ratio is 57.32%.

Insiders Place Their Bets

In other Community Bank System 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 transaction of $287,794.70. Following the sale, the director now directly owns 5,823 shares in the company, valued at $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CBU. Keefe, Bruyette & Woods raised their price objective on shares of 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. Piper Sandler started coverage on Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Raymond James raised Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a report on Monday, October 28th.

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.