Community Bank, N.A. (NYSE:CBU) announced a quarterly dividend on Thursday, May 17th, RTT News reports. Shareholders of record on Friday, June 15th will be paid a dividend of 0.34 per share by the bank on Tuesday, July 10th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.24%.
Community Bank, N.A. has increased its dividend by an average of 4.5% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Community Bank, N.A. has a dividend payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Community Bank, N.A. to earn $3.16 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 43.0%.
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Shares of NYSE:CBU traded up $0.31 on Thursday, reaching $60.76. 203,600 shares of the company’s stock were exchanged, compared to its average volume of 234,503. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.38 and a beta of 0.97. Community Bank, N.A. has a fifty-two week low of $60.13 and a fifty-two week high of $60.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.73 and a current ratio of 0.73.
Community Bank, N.A. (NYSE:CBU) last issued its earnings results on Tuesday, April 24th. The bank reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. The company had revenue of $138.44 million for the quarter, compared to analysts’ expectations of $136.03 million. Community Bank, N.A. had a net margin of 29.20% and a return on equity of 9.49%. The firm’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. sell-side analysts expect that Community Bank, N.A. will post 3.16 EPS for the current fiscal year.
In related news, Director R Kallet Michael sold 5,366 shares of the stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $57.08, for a total value of $306,291.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Brian D. Donahue sold 5,149 shares of the stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $57.78, for a total transaction of $297,509.22. Following the completion of the sale, the executive vice president now directly owns 44,488 shares in the company, valued at approximately $2,570,516.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,318 shares of company stock worth $766,375. Corporate insiders own 2.34% of the company’s stock.
CBU has been the topic of a number of research reports. Boenning Scattergood reissued a “hold” rating on shares of Community Bank, N.A. in a report on Monday, January 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 target price on shares of Community Bank, N.A. in a report on Wednesday, January 24th. Zacks Investment Research cut shares of Community Bank, N.A. from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Hovde Group raised shares of Community Bank, N.A. from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, March 28th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Community Bank, N.A. in a report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.67.
About Community Bank, N.A.
Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and 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.