Community Bank System (NYSE:CBU) Posts Earnings Results, Misses Expectations By $0.05 EPS

Community Bank System (NYSE:CBU) posted its earnings results on Tuesday. The bank reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05), Yahoo Finance reports. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The business had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis.

Community Bank System Trading Up 0.4 %

Shares of CBU stock traded up $0.26 during trading hours on Thursday, reaching $58.38. 228,835 shares of the stock were exchanged, compared to its average volume of 282,484. Community Bank System has a 12-month low of $36.42 and a 12-month high of $63.95. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $58.91 and its 200-day moving average price is $52.34. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 18.06 and a beta of 0.64.

Community Bank System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.15%. Community Bank System’s dividend payout ratio is presently 57.86%.

Wall Street Analysts Forecast Growth

CBU has been the topic of a number of research reports. Raymond James downgraded shares of Community Bank System from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $59.00 target price on shares of Community Bank System in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, Community Bank System currently has a consensus rating of “Hold” and a consensus price target of $50.50.

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.