Community Bank System, Inc. (CBU) to Issue Quarterly Dividend of $0.34 on January 10th

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.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The company had revenue of $137.30 million for the quarter, compared to analyst estimates of $138.74 million. During the same quarter in the previous year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. equities analysts predict that Community Bank System will post 2.61 EPS for the current fiscal year.

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.

Dividend History for Community Bank System (NYSE:CBU)

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