Community Bank System, Inc. (CBU) to Issue $0.38 Quarterly Dividend

Community Bank System, Inc. (NYSE:CBU) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Investors of record on Friday, June 14th will be given a dividend of 0.38 per share by the bank on Wednesday, July 10th. This represents a $1.52 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, June 13th.

Community Bank System has raised its dividend payment by an average of 5.0% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Community Bank System has a dividend payout ratio of 46.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Community Bank System to earn $3.37 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 45.1%.

CBU traded down $0.33 on Friday, hitting $64.60. The company’s stock had a trading volume of 167,820 shares, compared to its average volume of 204,303. The company has a market cap of $3.33 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. Community Bank System has a 12 month low of $54.46 and a 12 month high of $67.79. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.05. The company had revenue of $142.60 million during the quarter, compared to the consensus estimate of $142.48 million. Community Bank System had a net margin of 28.93% and a return on equity of 10.49%. Community Bank System’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Research analysts forecast that Community Bank System will post 3.27 earnings per share for the current fiscal year.

In other Community Bank System news, Director R Kallet Michael sold 6,725 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $62.49, for a total value of $420,245.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.15% of the company’s stock.

Several research firms have issued reports on CBU. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Monday. Stephens began coverage on shares of Community Bank System in a research note on Tuesday, April 9th. They issued an “equal weight” rating and a $63.00 target price on the stock. ValuEngine cut shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Community Bank System in a research note on Wednesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Community Bank System currently has a consensus rating of “Hold” and an average price target of $68.50.

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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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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Dividend History for Community Bank System (NYSE:CBU)

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