Community Financial System, Inc. (CBU) to Distribute Quarterly Dividend of $0.49 on October 13th

Community Financial System, Inc. (NYSE:CBU) declared a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.49 per share by the bank on Tuesday, October 13th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 15th. This is a 4.3% increase from Community Financial System’s previous quarterly dividend of $0.47.

Community Financial System has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 33 consecutive years. Community Financial System has a dividend payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Community Financial System to earn $5.28 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 35.6%.

Community Financial System Price Performance

Shares of CBU opened at $66.68 on Friday. The firm has a market cap of $3.50 billion, a PE ratio of 16.18 and a beta of 0.77. Community Financial System has a 52-week low of $51.12 and a 52-week high of $71.11. The business’s 50 day moving average price is $65.27 and its two-hundred day moving average price is $62.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, equities analysts anticipate that Community Financial System will post 4.7 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mark J. Bolus sold 12,191 shares of Community Financial System stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total value of $816,797.00. Following the completion of the sale, the director owned 94,060 shares of the company’s stock, valued at approximately $6,302,020. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the sale, the director owned 31,592 shares of the company’s stock, valued at $2,021,256.16. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Community Financial System

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Community Financial System by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank’s stock valued at $1,771,000 after acquiring an additional 1,362 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Community Financial System by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after purchasing an additional 40,384 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Community Financial System by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock worth $7,768,000 after purchasing an additional 8,182 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Community Financial System by 523.4% in the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock worth $8,286,000 after purchasing an additional 122,343 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Community Financial System by 37.5% in the first quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock worth $1,470,000 after purchasing an additional 7,052 shares during the last quarter. 73.79% of the stock is owned by institutional investors.

Community Financial System Company Profile

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.