Community Bank System, Inc. (NYSE:CBU) declared a quarterly dividend on Wednesday, February 21st, RTT News reports. Investors of record on Thursday, March 15th will be paid a dividend of 0.34 per share by the bank on Tuesday, April 10th. This represents a $1.36 annualized dividend and a yield of 2.49%.
Community Bank System has raised its dividend payment by an average of 4.5% annually over the last three years and has increased its dividend every year for the last 7 years. Community Bank System has a dividend payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Community Bank System to earn $3.07 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 44.3%.
Shares of Community Bank System (NYSE CBU) traded up $0.38 during mid-day trading on Wednesday, reaching $54.68. The company had a trading volume of 112,851 shares, compared to its average volume of 273,419. The firm has a market capitalization of $2,773.07, a PE ratio of 18.23, a PEG ratio of 1.82 and a beta of 1.02. Community Bank System has a 52-week low of $48.89 and a 52-week high of $61.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.72 and a current ratio of 0.75.
Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Monday, January 22nd. The bank reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71. The firm had revenue of $139.90 million during the quarter, compared to analysts’ expectations of $138.09 million. Community Bank System had a return on equity of 9.18% and a net margin of 28.34%. Community Bank System’s revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. sell-side analysts anticipate that Community Bank System will post 3 EPS for the current year.
In other Community Bank System news, EVP Brian D. Donahue sold 5,535 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $55.19, for a total transaction of $305,476.65. Following the completion of the transaction, the executive vice president now owns 43,844 shares of the company’s stock, valued at $2,419,750.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas A. Dicerbo sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $56.00, for a total value of $112,000.00. Following the transaction, the director now directly owns 184,622 shares of the company’s stock, valued at approximately $10,338,832. The disclosure for this sale can be found here. Insiders have sold 15,440 shares of company stock valued at $862,488 in the last three months. 3.20% of the stock is currently owned by company insiders.
Several equities analysts recently issued reports on CBU shares. Zacks Investment Research raised Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, October 25th. DA Davidson set a $55.00 price objective on Community Bank System and gave the stock a “hold” rating in a report on Tuesday, October 24th. They noted that the move was a valuation call. Boenning Scattergood reaffirmed a “hold” rating on shares of Community Bank System in a report on Monday, January 22nd. Sandler O’Neill raised Community Bank System from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price objective on shares of Community Bank System in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.60.
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About Community Bank System
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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