Community Bank System, Inc. (CBU) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Community Bank System, Inc. (NYSE:CBU) posted its earnings results on Monday. The bank reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06, MarketWatch Earnings reports. Community Bank System had a net margin of 20.63% and a return on equity of 9.04%. The firm had revenue of $137.30 million during the quarter, compared to analysts’ expectations of $138.74 million. During the same period last year, the company posted $0.61 EPS. The company’s quarterly revenue was up 26.7% compared to the same quarter last year.
Shares of Community Bank System (CBU) traded down 3.57% on Monday, reaching $53.75. 392,750 shares of the company were exchanged. Community Bank System has a 52 week low of $45.79 and a 52 week high of $63.04. The company’s 50-day moving average is $53.75 and its 200-day moving average is $54.54. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 25.71 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were given a dividend of $0.34 per share. This is a boost from Community Bank System’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Thursday, September 14th. Community Bank System’s dividend payout ratio (DPR) is 64.15%.
In related news, Director Brian R. Ace sold 5,457 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total value of $291,130.95. Following the completion of the sale, the director now directly owns 55,647 shares of the company’s stock, valued at $2,968,767.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the sale, the director now directly owns 11,603 shares of the company’s stock, valued at $614,959. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,457 shares of company stock valued at $1,085,081. 3.20% of the stock is owned by insiders.
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CBU has been the subject of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $54.00 target price on shares of Community Bank System in a research report on Friday, October 13th. Zacks Investment Research cut shares of Community Bank System from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $51.00 target price on shares of Community Bank System in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Finally, BidaskClub raised shares of Community Bank System from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.67.
About Community Bank System
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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