Community Financial System, Inc. Declares Quarterly Dividend of $0.47 (NYSE:CBU)

Key Points

• $0.47 quarterly dividend announced, payable July 10 to shareholders of record June 15 (ex-dividend June 15), which annualizes to $1.88 and yields about 3.0%.
• Community Financial System reported Q EPS of $1.12 (missed by $0.01) on $215.6M revenue (up 9.8% YoY); the stock trades near $62.46 with a $3.28B market cap and a PE of 15.7, and the dividend is covered with a ~39.7% payout ratio after 33 consecutive years of annual increases.

Community Financial System, Inc. (NYSE:CBU - Get Free Report) announced a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Monday, June 15th will be paid a dividend of 0.47 per share by the bank on Friday, July 10th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, June 15th.

Community Financial System has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 33 consecutive years. Community Financial System has a payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Community Financial System to earn $5.29 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 35.5%.

Community Financial System Stock Down 0.4%

Shares of NYSE:CBU opened at $62.46 on Thursday. Community Financial System has a 52 week low of $51.12 and a 52 week high of $67.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $3.28 billion, a PE ratio of 15.73 and a beta of 0.77. The company has a 50 day moving average price of $60.67 and a two-hundred day moving average price of $59.64.

Community Financial System (NYSE:CBU - Get Free Report) last issued its earnings results on Tuesday, January 27th. The bank reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The firm had revenue of $215.56 million during the quarter, compared to the consensus estimate of $212.85 million. During the same period in the previous year, the company posted $0.94 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Analysts forecast that Community Financial System will post 4.67 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.