Community Bank System (NYSE:CBU) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Community Bank System (NYSE:CBU) announced its earnings results on Sunday. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.76 by $0.09, reports. The business had revenue of $150.60 million for the quarter, compared to the consensus estimate of $150.48 million. Community Bank System had a return on equity of 8.52% and a net margin of 25.98%. Community Bank System’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS.

CBU stock traded down $0.59 during trading on Tuesday, hitting $67.35. The company had a trading volume of 19,618 shares, compared to its average volume of 297,383. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $65.26 and a 200-day moving average price of $60.67. Community Bank System has a 12 month low of $47.01 and a 12 month high of $70.62. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 22.42 and a beta of 0.72.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 11th. Investors of record on Monday, December 14th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Friday, December 11th. Community Bank System’s dividend payout ratio (DPR) is presently 51.06%.

Several brokerages have recently commented on CBU. Piper Sandler reduced their target price on Community Bank System from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, September 28th. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, December 29th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.33.

In other Community Bank System news, Director Brian R. Ace sold 3,850 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $65.96, for a total transaction of $253,946.00. Following the completion of the sale, the director now owns 64,623 shares in the company, valued at approximately $4,262,533.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP George J. Getman sold 5,579 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $65.08, for a total transaction of $363,081.32. Following the sale, the vice president now owns 41,831 shares of the company’s stock, valued at approximately $2,722,361.48. The disclosure for this sale can be found here. Insiders sold a total of 33,543 shares of company stock valued at $2,159,381 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

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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Earnings History for Community Bank System (NYSE:CBU)

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