Community Bank System, Inc. (CBU) To Go Ex-Dividend on December 14th
Community Bank System, Inc. (NYSE:CBU) declared a quarterly dividend on Thursday, November 16th, RTT News reports. Stockholders 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 dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, December 14th.
Community Bank System has raised its dividend payment by an average of 4.7% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Community Bank System has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. 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%.
Community Bank System (CBU) opened at $53.97 on Friday. The firm has a market capitalization of $2,778.19, a PE ratio of 20.26, a PEG ratio of 2.10 and a beta of 1.07. Community Bank System has a one year low of $48.89 and a one year high of $63.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72.
Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. The business had revenue of $137.30 million during the quarter, compared to analyst estimates of $138.74 million. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The company’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. research analysts forecast that Community Bank System will post 2.61 EPS for the current year.
Several equities analysts recently weighed in on CBU shares. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Wednesday, October 25th. DA Davidson set a $55.00 price target on Community Bank System and gave the company a “hold” rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “hold” rating and issued a $54.00 price target on shares of Community Bank System in a research note on Friday, October 13th. Finally, BidaskClub lowered Community Bank System from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Community Bank System presently has an average rating of “Hold” and an average price target of $55.20.
In other Community Bank System news, Director R Kallet Michael sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $52.55, for a total transaction of $262,750.00. Following the completion of the sale, the director now directly owns 16,603 shares in the company, valued at approximately $872,487.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian R. Ace sold 5,457 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total value of $291,130.95. Following the sale, the director now owns 55,647 shares of the company’s stock, valued at $2,968,767.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,957 shares of company stock valued at $1,507,931. 3.20% of the stock is owned by company insiders.
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About Community Bank System
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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