Community Bank System, Inc. (NYSE:CBU – Get Free Report) announced a quarterly dividend on Wednesday, February 14th, NASDAQ reports. Shareholders of record on Friday, March 15th will be paid a dividend of 0.45 per share by the bank on Wednesday, April 10th. This represents a $1.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Thursday, March 14th.
Community Bank System has raised its dividend payment by an average of 2.4% per year over the last three years and has raised its dividend every year for the last 32 years. Community Bank System has a payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Community Bank System to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 52.5%.
Community Bank System Stock Performance
Shares of CBU stock opened at $47.22 on Tuesday. The stock has a market cap of $2.52 billion, a P/E ratio of 18.66 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.74 and a quick ratio of 0.74. The company has a fifty day moving average price of $46.99 and a two-hundred day moving average price of $45.63. Community Bank System has a one year low of $35.38 and a one year high of $57.70.
Wall Street Analysts Forecast Growth
CBU has been the topic of a number of recent research reports. Raymond James raised their price target on shares of Community Bank System from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. StockNews.com raised shares of Community Bank System to a “sell” rating in a research report on Friday, January 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Community Bank System currently has a consensus rating of “Hold” and a consensus target price of $54.00.
View Our Latest Stock Analysis on CBU
Insider Activity
In other news, Director Sally A. Steele sold 3,501 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $48.76, for a total value of $170,708.76. Following the sale, the director now directly owns 33,634 shares in the company, valued at approximately $1,639,993.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Sally A. Steele sold 9,400 shares of Community Bank System stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $53.05, for a total transaction of $498,670.00. Following the sale, the director now directly owns 33,634 shares in the company, valued at approximately $1,784,283.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sally A. Steele sold 3,501 shares of Community Bank System stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $48.76, for a total transaction of $170,708.76. Following the sale, the director now owns 33,634 shares in the company, valued at $1,639,993.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,532 shares of company stock worth $832,774. Corporate insiders own 1.75% of the company’s stock.
Institutional Investors Weigh In On Community Bank System
Several hedge funds have recently added to or reduced their stakes in CBU. Lazard Asset Management LLC acquired a new stake in Community Bank System during the 4th quarter worth approximately $31,000. Eagle Bay Advisors LLC acquired a new position in shares of Community Bank System in the 2nd quarter worth approximately $32,000. Covestor Ltd lifted its position in shares of Community Bank System by 82.8% in the 1st quarter. Covestor Ltd now owns 585 shares of the bank’s stock worth $41,000 after purchasing an additional 265 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Community Bank System in the 4th quarter worth approximately $50,000. Finally, Benjamin Edwards Inc. lifted its position in shares of Community Bank System by 121.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,212 shares of the bank’s stock worth $57,000 after purchasing an additional 665 shares during the period. 75.39% of the stock is currently owned by institutional investors and hedge funds.
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 interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.
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