Community Bank System, Inc. (NYSE:CBU) Announces Quarterly Dividend of $0.43

Community Bank System, Inc. (NYSE:CBUGet Rating) announced a quarterly dividend on Wednesday, May 18th, Zacks reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 0.43 per share by the bank on Monday, July 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, June 14th.

Community Bank System has raised its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Community Bank System has a payout ratio of 46.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Community Bank System to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 47.0%.

Shares of CBU stock opened at $62.97 on Friday. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 18.69 and a beta of 0.68. The business has a fifty day moving average of $67.97 and a 200 day moving average of $71.56. Community Bank System has a 1 year low of $62.08 and a 1 year high of $82.10.

Community Bank System (NYSE:CBUGet Rating) last issued its earnings results on Monday, April 25th. The bank reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Community Bank System had a return on equity of 9.14% and a net margin of 28.70%. During the same period last year, the business posted $0.97 earnings per share. Equities analysts predict that Community Bank System will post 3.49 earnings per share for the current year.

A number of brokerages recently issued reports on CBU. Piper Sandler lowered Community Bank System from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $74.00 to $66.00 in a research note on Monday, May 2nd. StockNews.com began coverage on Community Bank System in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research lowered Community Bank System from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd.

In related news, insider Jeffrey M. Levy sold 954 shares of Community Bank System stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $70.54, for a total value of $67,295.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally A. Steele sold 10,000 shares of Community Bank System stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $66.52, for a total value of $665,200.00. Following the completion of the transaction, the director now owns 41,506 shares of the company’s stock, valued at approximately $2,760,979.12. The disclosure for this sale can be found here. Company insiders own 1.63% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Community Bank System by 0.6% in the 1st quarter. BlackRock Inc. now owns 7,943,008 shares of the bank’s stock worth $557,203,000 after buying an additional 50,524 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Community Bank System by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,382,421 shares of the bank’s stock worth $447,727,000 after buying an additional 51,693 shares during the last quarter. State Street Corp boosted its holdings in Community Bank System by 14.8% in the 1st quarter. State Street Corp now owns 5,037,367 shares of the bank’s stock worth $355,486,000 after buying an additional 647,871 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Community Bank System by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,173,356 shares of the bank’s stock worth $82,312,000 after purchasing an additional 42,368 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Community Bank System by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 469,990 shares of the bank’s stock worth $32,970,000 after purchasing an additional 15,734 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Community Bank System Company Profile (Get Rating)

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 deposit accounts, as well as time deposits.

See Also

Dividend History for Community Bank System (NYSE:CBU)

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