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

Community Bank System, Inc. (NYSE:CBU) announced a quarterly dividend on Wednesday, April 16th, RTT News reports. Stockholders of record on Friday, June 13th will be given a dividend of 0.46 per share by the bank on Thursday, July 10th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, June 13th.

Community Bank System has a dividend payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Community Bank System to earn $4.80 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 38.3%.

Community Bank System Stock Performance

CBU opened at $57.94 on Wednesday. The business’s 50 day moving average is $55.24 and its 200-day moving average is $60.30. The stock has a market cap of $3.06 billion, a PE ratio of 16.84 and a beta of 0.79. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Community Bank System has a twelve month low of $42.16 and a twelve month high of $73.39.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, April 29th. The bank reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The firm had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $197.13 million. During the same quarter in the previous year, the company earned $1.18 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Community Bank System will post 4.18 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Community Bank System from a “sell” rating to a “hold” rating in a report on Friday, May 16th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new position in shares of Community Bank System in the first quarter valued at $102,000. Intech Investment Management LLC increased its holdings in shares of Community Bank System by 37.5% in the first quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock valued at $1,470,000 after buying an additional 7,052 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Community Bank System by 523.4% in the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock valued at $8,286,000 after buying an additional 122,343 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Community Bank System by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock valued at $7,768,000 after buying an additional 8,182 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Community Bank System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock valued at $31,308,000 after buying an additional 40,384 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

About Community Bank System

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.