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Community Financial System, Inc. (NYSE:CBU) Increases Dividend to $0.47 Per Share

Community Financial System logo with Finance background

Community Financial System, Inc. (NYSE:CBU - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Investors of record on Friday, September 12th will be given a dividend of 0.47 per share by the bank on Friday, October 10th. This represents a $1.88 annualized dividend and a yield of 3.30%. This is a 2.2% increase from Community Financial System's previous quarterly dividend of $0.46.

Community Financial System has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Community Financial 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 Financial System Trading Up 1.1%

CBU traded up $0.61 on Wednesday, hitting $57.01. The company had a trading volume of 245,829 shares, compared to its average volume of 241,530. The company has a market cap of $3.01 billion, a PE ratio of 15.79 and a beta of 0.78. Community Financial System has a 12-month low of $49.44 and a 12-month high of $73.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $56.97 and its 200 day simple moving average is $58.66.

Community Financial System (NYSE:CBU - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $196.20 million during the quarter, compared to analyst estimates of $197.13 million. Community Financial System had a return on equity of 10.98% and a net margin of 19.89%. The firm's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $1.18 earnings per share. Equities research analysts expect that Community Financial System will post 4.18 EPS for the current year.

Institutional Trading of Community Financial System

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Community Financial System in the first quarter worth about $102,000. Intech Investment Management LLC raised its stake in shares of Community Financial System by 37.5% during the first quarter. Intech Investment Management LLC now owns 25,846 shares of the bank's stock valued at $1,470,000 after acquiring an additional 7,052 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Community Financial System by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank's stock valued at $1,771,000 after acquiring an additional 1,362 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Community Financial System by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank's stock valued at $7,768,000 after acquiring an additional 8,182 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Community Financial System by 523.4% during the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank's stock valued at $8,286,000 after acquiring an additional 122,343 shares in the last quarter. Institutional investors own 73.79% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Community Financial System from a "sell" rating to a "hold" rating in a research note on Friday, May 16th.

Read Our Latest Stock Report on Community Financial System

About Community Financial System

(Get Free Report)

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.

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Dividend History for Community Financial System (NYSE:CBU)

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