Community Financial System (NYSE:CBU) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Community Financial System (NYSE:CBU) issued its quarterly earnings results on Tuesday. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.08, FiscalAI reports. The firm had revenue of $230.21 million for the quarter, compared to analyst estimates of $227.15 million. Community Financial System had a return on equity of 11.47% and a net margin of 21.79%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share.

Community Financial System Stock Performance

Shares of CBU opened at $62.58 on Tuesday. Community Financial System has a twelve month low of $53.46 and a twelve month high of $71.11. The firm’s 50 day moving average price is $61.65 and its two-hundred day moving average price is $62.83. The firm has a market cap of $3.29 billion, a P/E ratio of 14.44 and a beta of 0.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77.

Community Financial System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Tuesday, December 15th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, December 15th. Community Financial System’s dividend payout ratio is 45.48%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CBU shares. Weiss Ratings restated a “buy (b)” rating on shares of Community Financial System in a research report on Tuesday, September 29th. DA Davidson reduced their target price on Community Financial System from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Keefe, Bruyette & Woods decreased their price target on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Piper Sandler lowered their price target on shares of Community Financial System from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.25.

Insider Buying and Selling

In related news, Director Brenda M. Hall bought 476 shares of Community Financial System stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $63.59 per share, with a total value of $30,268.84. Following the acquisition, the director owned 515 shares of the company’s stock, valued at approximately $32,748.85. This represents a 1,220.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.15% of the company’s stock.

Community Financial System Company Profile

Community Financial System, Inc (NYSE: CBU) is a diversified financial services company headquartered in DeWitt, New York. Formerly known as Community Bank System, Inc, the company traces its banking history to 1866 and operates through Community Bank, N.A., along with other financial services businesses.

Its banking operations provide consumer and commercial deposit accounts, residential and commercial lending, agricultural financing, municipal banking, cash management, and other financial products.