Community Financial System, Inc. (NYSE:CBU) Declares Quarterly Dividend of $0.47

Community Financial System, Inc. (NYSE:CBU) announced a quarterly dividend on Wednesday, January 21st. Investors of record on Monday, March 16th will be given a dividend of 0.47 per share by the bank on Friday, April 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, March 16th.

Community Financial System has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 33 years. Community Financial System has a payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Community Financial System to earn $4.80 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 39.2%.

Community Financial System Trading Up 5.1%

Shares of CBU opened at $64.13 on Thursday. The company’s fifty day moving average is $58.95 and its 200 day moving average is $58.02. Community Financial System has a fifty-two week low of $49.44 and a fifty-two week high of $68.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $3.38 billion, a PE ratio of 16.53 and a beta of 0.79.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, October 21st. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. The firm had revenue of $206.82 million during the quarter, compared to the consensus estimate of $206.85 million. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts expect that Community Financial System will post 4.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CBU shares. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $66.00 target price (down from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Wall Street Zen downgraded Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a report on Monday, December 29th. Finally, Piper Sandler began coverage on Community Financial System in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price objective for the company. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.00.

Community Financial System Company Profile

Community Financial System (NYSE: CBU) is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company’s product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.