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

Community Bank System, Inc. (NYSE:CBU - Get Free Report) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors 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 dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, June 13th.

Community Bank System has raised its dividend by an average of 2.3% per year over the last three years and has raised 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. Research 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 Price Performance

CBU stock traded down $0.91 during midday trading on Monday, reaching $52.47. The company had a trading volume of 220,867 shares, compared to its average volume of 260,438. Community Bank System has a 1 year low of $42.16 and a 1 year high of $73.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $2.77 billion, a P/E ratio of 15.25 and a beta of 0.74. The firm has a 50-day moving average price of $57.81 and a 200-day moving average price of $62.03.

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price target on shares of 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 Activity

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