Community Financial System (NYSE:CBU) Releases Earnings Results, Misses Estimates By $0.06 EPS

Community Financial System (NYSE:CBU - Get Free Report) issued its earnings results on Tuesday. The bank reported $0.97 earnings per share for the quarter, missing analysts' consensus estimates of $1.03 by ($0.06), Zacks reports. The business had revenue of $199.30 million for the quarter, compared to the consensus estimate of $201.93 million. Community Financial System had a return on equity of 10.71% and a net margin of 19.91%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share.

Community Financial System Stock Down 1.7%

CBU stock traded down $0.96 during midday trading on Thursday, reaching $54.43. The company had a trading volume of 139,720 shares, compared to its average volume of 226,124. Community Financial System has a 1 year low of $49.44 and a 1 year high of $73.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.88 billion, a P/E ratio of 14.83 and a beta of 0.78. The company has a 50 day moving average of $56.95 and a two-hundred day moving average of $58.50.

Community Financial System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 12th will be given a $0.47 dividend. This is an increase from Community Financial System's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.88 dividend on an annualized basis and a yield of 3.45%. Community Financial System's dividend payout ratio is presently 51.23%.

Institutional Investors Weigh In On Community Financial System

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBU. Strs Ohio purchased a new stake in Community Financial System in the 1st quarter worth approximately $102,000. Intech Investment Management LLC lifted its position in Community Financial System by 37.5% in the 1st quarter. Intech Investment Management LLC now owns 25,846 shares of the bank's stock worth $1,470,000 after buying an additional 7,052 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Community Financial System by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank's stock worth $1,771,000 after buying an additional 1,362 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Community Financial System by 6.4% during the 1st 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 purchasing an additional 8,182 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Community Financial System by 523.4% during the 1st quarter. Jane Street Group LLC now owns 145,719 shares of the bank's stock valued at $8,286,000 after purchasing an additional 122,343 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Community Financial System from $69.00 to $67.00 and set a "market perform" rating for the company in a research note on Wednesday. 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.

Community Financial 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.