Community Bank System, Inc. (NYSE:CBU) to Issue Quarterly Dividend of $0.46

Community Bank System, Inc. (NYSE:CBU) declared a quarterly dividend on Wednesday, July 17th, Wall Street Journal reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.46 per share by the bank on Thursday, October 10th. This represents a $1.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Friday, September 13th. This is an increase from Community Bank System’s previous quarterly dividend of $0.45.

Community Bank System has raised its dividend payment by an average of 2.4% per year over the last three years and has increased its dividend annually for the last 33 consecutive years. Community Bank System has a dividend payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Community Bank System to earn $3.62 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 50.8%.

Community Bank System Stock Down 1.6 %

Shares of CBU opened at $56.32 on Thursday. The company has a 50-day simple moving average of $57.38 and a 200-day simple moving average of $49.63. The firm has a market capitalization of $2.97 billion, a P/E ratio of 17.74 and a beta of 0.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System has a 52 week low of $35.38 and a 52 week high of $63.95.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. The business had revenue of $183.80 million during the quarter, compared to analyst estimates of $180.05 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, equities research analysts expect that Community Bank System will post 3.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

CBU has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 price objective on shares of Community Bank System in a research report on Tuesday. Raymond James cut shares of Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.50.

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, 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.