Community Bank System, Inc. (NYSE:CBU) announced a quarterly dividend on Thursday, November 16th, RTT News reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.34 per share by the bank on Wednesday, January 10th. This represents a $1.36 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, December 14th.
Community Bank System has increased its dividend payment by an average of 4.7% annually over the last three years and has increased its dividend every year for the last 6 years. Community Bank System has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Community Bank System to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 50.2%.
Shares of Community Bank System (CBU) traded up $0.33 on Wednesday, reaching $54.08. The company’s stock had a trading volume of 138,400 shares, compared to its average volume of 260,418. Community Bank System has a 12 month low of $48.89 and a 12 month high of $63.04. The stock has a market cap of $2,720.24, a price-to-earnings ratio of 19.83, a PEG ratio of 2.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72.
Several equities research analysts have recently commented on CBU shares. Zacks Investment Research raised Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, October 25th. DA Davidson set a $55.00 price target on Community Bank System and gave the stock a “hold” rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $54.00 price target on shares of Community Bank System in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $55.20.
In related news, Director Brian R. Ace sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total value of $291,130.95. Following the sale, the director now owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $52.55, for a total value of $262,750.00. Following the completion of the sale, the director now directly owns 16,603 shares in the company, valued at approximately $872,487.65. The disclosure for this sale can be found here. Insiders have sold a total of 29,957 shares of company stock worth $1,619,931 in the last three months. Corporate insiders own 3.20% of the company’s stock.
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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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