Community Bank System (CBU) Declares $0.44 Dividend
Community Bank System said on May 17, 2023 that its board of directors declared a regular quarterly dividend of $0.44 per share ($1.76 annualized). Previously, the company paid $0.44 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 10, 2023.
At the current share price of $48.40 / share, the stock's dividend yield is 3.64%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.56%, the lowest has been 2.06%, and the highest has been 3.78%. The standard deviation of yields is 0.32 (n=237).
The current dividend yield is 3.35 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.64. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 513 funds or institutions reporting positions in Community Bank System. This is a decrease of 6 owner(s) or 1.16% in the last quarter. Average portfolio weight of all funds dedicated to CBU is 0.15%, an increase of 2.58%. Total shares owned by institutions decreased in the last three months by 1.69% to 45,916K shares. 
The put/call ratio of CBU is 3.52, indicating a bearish outlook.
Analyst Price Forecast Suggests 13.45% Upside
As of May 11, 2023, the average one-year price target for Community Bank System is 54.91. The forecasts range from a low of 50.50 to a high of $59.85. The average price target represents an increase of 13.45% from its latest reported closing price of 48.40.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Community Bank System is 738MM, an increase of 18.02%. The projected annual non-GAAP EPS is 3.83.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,702K shares representing 6.89% ownership of the company. In it's prior filing, the firm reported owning 3,680K shares, representing an increase of 0.58%. The firm decreased its portfolio allocation in CBU by 4.12% over the last quarter.
Neuberger Berman Group holds 2,670K shares representing 4.97% ownership of the company. In it's prior filing, the firm reported owning 2,508K shares, representing an increase of 6.05%. The firm decreased its portfolio allocation in CBU by 57.13% over the last quarter.
SDY - SPDR(R) S&P(R) Dividend ETF holds 2,332K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 2,555K shares, representing a decrease of 9.56%. The firm decreased its portfolio allocation in CBU by 18.00% over the last quarter.
NBGNX - Neuberger Berman Genesis Fund Investor Class holds 1,658K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,634K shares, representing an increase of 1.42%. The firm decreased its portfolio allocation in CBU by 4.13% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,636K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 1,588K shares, representing an increase of 2.98%. The firm decreased its portfolio allocation in CBU by 0.26% over the last quarter.
Community Bank System Background Information
(This description is provided by the company.)
Community Bank System, Inc. operates more than 230 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of over $13.8 billion, the DeWitt, N.Y. headquartered company is among the country's 125 largest banking institutions. In addition to a full range of retail, business, and municipal banking services, the Company offers comprehensive financial planning, insurance and wealth management services through its Community Bank Wealth Management Group and OneGroup NY, Inc. operating units. The Company's Benefit Plans Administrative Services, Inc. subsidiary is a leading provider of employee benefits administration, trust services, collective investment fund administration and actuarial consulting services to customers on a national scale.
Key filings for this company:
This story originally appeared on Fintel.