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

Community Bank System (NYSE:CBU - Get Free Report) released its earnings results on Tuesday. The bank reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05), Yahoo Finance reports. The business had revenue of $188.94 million during the quarter, compared to analyst estimates of $186.35 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share.

Community Bank System Trading Up 0.6 %

CBU stock traded up $0.34 during trading on Wednesday, reaching $58.16. 185,020 shares of the stock traded hands, compared to its average volume of 282,746. Community Bank System has a 52-week low of $35.38 and a 52-week high of $63.95. The business's 50 day moving average price is $58.88 and its 200-day moving average price is $52.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $3.07 billion, a PE ratio of 18.19 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. Shareholders of record on Friday, December 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, December 13th. Community Bank System's dividend payout ratio (DPR) is presently 57.86%.

Wall Street Analysts Forecast Growth

CBU has been the subject of several analyst reports. Raymond James lowered Community Bank System from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $59.00 price target on shares of Community Bank System in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $50.50.

Community Bank System Company Profile

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.