Community Financial System, Inc. (NYSE:CBU) Raises Dividend to $0.49 Per Share

Community Financial System, Inc. (NYSE:CBU) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Tuesday, September 15th will be given a dividend of 0.49 per share by the bank on Tuesday, October 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a 4.3% increase from Community Financial System’s previous quarterly dividend of $0.47.

Community Financial System has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 33 consecutive years. Community Financial System has a dividend payout ratio of 39.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Community Financial System to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 35.6%.

Community Financial System Stock Down 0.9%

Shares of NYSE CBU opened at $67.19 on Thursday. Community Financial System has a 12-month low of $51.12 and a 12-month high of $71.11. The firm’s 50-day simple moving average is $65.18 and its 200 day simple moving average is $62.86. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 16.31 and a beta of 0.77.

Community Financial System (NYSE:CBU) last announced its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Community Financial System will post 4.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CBU. Wall Street Zen cut shares of Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price objective on shares of Community Financial System in a research report on Thursday, April 30th. Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Finally, Piper Sandler boosted their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.75.

About Community Financial System

Community Financial System (NYSE: CBU) is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company’s product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.