Community Financial System, Inc. (NYSE:CBU) to Issue Quarterly Dividend of $0.47

by · The Markets Daily

Community Financial System, Inc. (NYSE:CBU – Get Free Report) declared a quarterly dividend on Wednesday, January 21st. Investors of record on Monday, March 16th will be given a dividend of 0.47 per share by the bank on Friday, April 10th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, March 16th.

Community Financial System has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 33 consecutive years. Community Financial System has a payout ratio of 39.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Community Financial System to earn $4.80 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 39.2%.

Community Financial System Stock Performance

NYSE:CBU opened at $64.13 on Thursday. The stock has a market cap of $3.38 billion, a P/E ratio of 16.53 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $58.95 and its two-hundred day moving average price is $58.02. Community Financial System has a twelve month low of $49.44 and a twelve month high of $68.11.

Community Financial System (NYSE:CBU – Get Free Report) last announced its earnings results on Tuesday, October 21st. The bank reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. The business had revenue of $206.82 million for the quarter, compared to the consensus estimate of $206.85 million. During the same period last year, the firm posted $0.88 earnings per share. Community Financial System’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts predict that Community Financial System will post 4.18 EPS for the current fiscal year.

Institutional Trading of Community Financial System

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in Community Financial System by 841.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,403 shares of the bank’s stock valued at $80,000 after acquiring an additional 1,254 shares during the period. Norges Bank bought a new stake in shares of Community Financial System during the 2nd quarter valued at $34,546,000. Y Intercept Hong Kong Ltd increased its position in Community Financial System by 56.1% in the second quarter. Y Intercept Hong Kong Ltd now owns 19,060 shares of the bank’s stock worth $1,084,000 after buying an additional 6,850 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Community Financial System by 16.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 97,781 shares of the bank’s stock worth $5,561,000 after acquiring an additional 13,794 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Community Financial System by 1.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 50,920 shares of the bank’s stock valued at $2,896,000 after purchasing an additional 514 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

About Community Financial System

(Get Free Report)

Community Financial System (NYSE: CBU) is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company’s product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.

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