Community Bank System, Inc. (NYSE:CBU) Plans Dividend Increase – $0.41 Per Share

Community Bank System, Inc. (NYSE:CBU) declared a quarterly dividend on Wednesday, August 21st, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.41 per share by the bank on Thursday, October 10th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, September 13th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.38.

Community Bank System has increased its dividend by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 8 years. Community Bank System has a payout ratio of 49.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Community Bank System to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 50.3%.

CBU opened at $64.91 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.42 and a beta of 1.02. The company’s 50 day moving average is $62.14 and its 200 day moving average is $63.25. Community Bank System has a 12-month low of $54.46 and a 12-month high of $67.79.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $149.00 million for the quarter, compared to the consensus estimate of $144.08 million. Community Bank System had a net margin of 28.64% and a return on equity of 10.10%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. As a group, analysts predict that Community Bank System will post 3.24 EPS for the current fiscal year.

A number of equities analysts recently issued reports on CBU shares. Zacks Investment Research downgraded shares of Community Bank System from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.

In other Community Bank System news, Director Brian R. Ace sold 4,471 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $65.78, for a total transaction of $294,102.38. Following the sale, the director now owns 61,910 shares in the company, valued at approximately $4,072,439.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.15% of the stock is currently owned by company insiders.

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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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Dividend History for Community Bank System (NYSE:CBU)

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