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

Community Bank System, Inc. (NYSE:CBU - Get Free Report) announced a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors of record on Friday, June 13th will be paid a dividend of 0.46 per share by the bank on Thursday, July 10th. This represents a $1.84 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, June 13th.

Community Bank System has raised its dividend payment by an average of 2.3% annually over the last three years and has raised its dividend annually for the last 33 consecutive years. Community Bank System has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE CBU traded up $0.03 during trading on Friday, hitting $53.30. The company had a trading volume of 274,496 shares, compared to its average volume of 261,269. Community Bank System has a fifty-two week low of $42.16 and a fifty-two week high of $73.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $58.33 and a two-hundred day simple moving average of $62.02. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 15.50 and a beta of 0.74.

Community Bank System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The company had revenue of $196.30 million during the quarter, compared to analysts' expectations of $190.95 million. During the same quarter in the prior year, the company earned $0.76 EPS. Community Bank System's revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that Community Bank System will post 4.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a report on Wednesday, January 22nd.

Insider Activity at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the transaction, the senior vice president now owns 6,539 shares of the company's stock, valued at approximately $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.01% 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.