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Community Bank System

NYSE:CBU
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CBU
NYSE
$3B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Community Bank System, Inc. operates as the bank holding company for Community Bank, N.A. The last earnings update was 16 days ago. More info.


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CBU Share Price and Events
7 Day Returns
-0.9%
NYSE:CBU
-0.5%
US Banks
-1.4%
US Market
1 Year Returns
6.1%
NYSE:CBU
-9.6%
US Banks
1.6%
US Market
CBU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Community Bank System (CBU) -0.9% -2.3% -0.2% 6.1% 55.5% 80.2%
US Banks -0.5% -4% -2.7% -9.6% 36.5% 44.7%
US Market -1.4% -3.9% 0.1% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • CBU outperformed the Banks industry which returned -9.6% over the past year.
  • CBU outperformed the Market in United States of America which returned 1.6% over the past year.
Price Volatility
CBU
Industry
5yr Volatility vs Market

Value

 Is Community Bank System undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Community Bank System to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Community Bank System.

NYSE:CBU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 9 analysts.
= Stable Book Value * Return on Equity
= $36.11 * 9.6%
$3.47
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. $36.11
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CBU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.62 (1 + (1- 21%) (11.71%))
0.784
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NYSE:CBU using Excess Returns Model Model

The calculations below outline how an intrinsic value for Community Bank System is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:CBU Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.6% – 7.5%) * $36.11)
$0.76
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.76 / (7.5% - 2.73%)
$15.91
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $36.11 + $15.91
$52.02
NYSE:CBU Discount to Share Price
Calculation Result
Value per share (USD) From above. $52.02
Current discount Discount to share price of $64.00
= -1 x ($64.00 - $52.02) / $52.02
-23%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Community Bank System is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Community Bank System's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Community Bank System's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CBU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.31
NYSE:CBU Share Price ** NYSE (2019-05-24) in USD $64
United States of America Banks Industry PE Ratio Median Figure of 597 Publicly-Listed Banks Companies 12.76x
United States of America Market PE Ratio Median Figure of 3,086 Publicly-Listed Companies 17.45x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Community Bank System.

NYSE:CBU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CBU Share Price ÷ EPS (both in USD)

= 64 ÷ 3.31

19.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Community Bank System is overvalued based on earnings compared to the US Banks industry average.
  • Community Bank System is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Community Bank System's expected growth come at a high price?
Raw Data
NYSE:CBU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
4.3%per year
United States of America Banks Industry PEG Ratio Median Figure of 270 Publicly-Listed Banks Companies 1.36x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

NYSE:CBU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.34x ÷ 4.3%

4.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Community Bank System is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Community Bank System's assets?
Raw Data
NYSE:CBU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $34.14
NYSE:CBU Share Price * NYSE (2019-05-24) in USD $64
United States of America Banks Industry PB Ratio Median Figure of 602 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,208 Publicly-Listed Companies 1.8x
NYSE:CBU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CBU Share Price ÷ Book Value per Share (both in USD)

= 64 ÷ 34.14

1.87x

* Primary Listing of Community Bank System.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Community Bank System is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Community Bank System's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Community Bank System has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Community Bank System expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Community Bank System expected to grow at an attractive rate?
  • Community Bank System's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Community Bank System's earnings growth is positive but not above the United States of America market average.
  • Community Bank System's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CBU Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CBU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 4.3%
NYSE:CBU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 5.2%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CBU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CBU Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 618 178 7
2019-12-31 589 170 7
NYSE:CBU Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 560 195 170
2018-12-31 558 221 168
2018-09-30 554 217 199
2018-06-30 549 209 191
2018-03-31 536 208 164
2017-12-31 507 190 150
2017-09-30 479 171 105
2017-06-30 450 158 96
2017-03-31 427 151 105
2016-12-31 421 136 103
2016-09-30 410 139 97
2016-06-30 395 133 95

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Community Bank System's earnings are expected to grow by 4.3% yearly, however this is not considered high growth (20% yearly).
  • Community Bank System's revenue is expected to grow by 5.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CBU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Community Bank System Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CBU Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.40 3.54 3.30 9.00
2019-12-31 3.25 3.35 3.14 9.00
NYSE:CBU Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.31
2018-12-31 3.28
2018-09-30 3.90
2018-06-30 3.76
2018-03-31 3.26
2017-12-31 3.07
2017-09-30 2.21
2017-06-30 2.12
2017-03-31 2.36
2016-12-31 2.34
2016-09-30 2.23
2016-06-30 2.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Community Bank System will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Community Bank System's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Community Bank System has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Community Bank System performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Community Bank System's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Community Bank System's year on year earnings growth rate has been positive over the past 5 years.
  • Community Bank System's 1-year earnings growth is less than its 5-year average (3.5% vs 18.4%)
  • Community Bank System's earnings growth has not exceeded the US Banks industry average in the past year (3.5% vs 39.5%).
Earnings and Revenue History
Community Bank System's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Community Bank System Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CBU Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 559.64 169.77 309.03
2018-12-31 557.94 167.90 306.43
2018-09-30 554.02 199.11 304.51
2018-06-30 548.95 191.27 300.25
2018-03-31 535.78 163.97 291.79
2017-12-31 507.11 150.12 281.61
2017-09-30 478.81 104.54 264.90
2017-06-30 450.41 96.47 252.76
2017-03-31 427.39 105.07 243.71
2016-12-31 421.45 103.26 236.91
2016-09-30 410.03 96.99 234.79
2016-06-30 395.25 94.84 225.29
2016-03-31 380.83 92.89 216.09
2015-12-31 365.27 90.78 204.87
2015-09-30 359.62 93.82 202.21
2015-06-30 358.49 91.23 201.89
2015-03-31 357.07 91.02 200.80
2014-12-31 356.27 90.90 200.96
2014-09-30 369.78 83.24 199.15
2014-06-30 365.17 82.85 198.25
2014-03-31 376.16 80.31 197.07
2013-12-31 419.62 78.40 195.81
2013-09-30 400.48 81.71 194.92
2013-06-30 396.37 78.09 190.70
2013-03-31 375.75 78.01 186.02
2012-12-31 320.56 76.57 181.14
2012-09-30 312.98 76.74 176.04
2012-06-30 307.73 78.36 172.94

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Community Bank System has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Community Bank System used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Community Bank System improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Community Bank System's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Community Bank System has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Community Bank System's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Community Bank System's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Community Bank System Company Filings, last reported 1 month ago.

NYSE:CBU Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,757.13 386.11 509.22
2018-12-31 1,713.78 414.42 212.53
2018-09-30 1,668.35 375.80 258.14
2018-06-30 1,656.96 307.71 251.25
2018-03-31 1,631.47 405.46 544.80
2017-12-31 1,635.32 486.80 224.90
2017-09-30 1,593.25 438.03 247.96
2017-06-30 1,572.90 495.86 235.05
2017-03-31 1,296.03 102.18 309.94
2016-12-31 1,198.10 248.37 173.86
2016-09-30 1,240.58 236.09 161.54
2016-06-30 1,236.93 369.76 161.63
2016-03-31 1,200.67 135.85 138.51
2015-12-31 1,140.65 403.48 153.33
2015-09-30 1,045.03 660.33 156.84
2015-06-30 1,000.34 668.42 143.24
2015-03-31 1,013.40 297.85 150.69
2014-12-31 987.90 440.17 138.58
2014-09-30 965.52 445.93 157.67
2014-06-30 955.02 421.53 162.05
2014-03-31 918.14 319.21 153.49
2013-12-31 875.81 244.01 149.65
2013-09-30 865.68 669.34 174.47
2013-06-30 850.03 424.40 148.70
2013-03-31 877.29 463.50 330.30
2012-12-31 902.78 830.13 228.56
2012-09-30 904.60 830.18 287.75
2012-06-30 885.06 1,259.93 130.90
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Community Bank System has an acceptable proportion of non-loan assets held.
  • Community Bank System's liabilities are made up of primarily low risk sources of funding.
  • Loans at Community Bank System are broadly funded by customer deposits.
  • Community Bank System's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Community Bank System has a sufficient allowance for bad loans.
  • Community Bank System has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Community Bank System's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Community Bank System has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Community Bank System's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.38%
Current annual income from Community Bank System dividends. Estimated to be 2.46% next year.
If you bought $2,000 of Community Bank System shares you are expected to receive $48 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Community Bank System's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Community Bank System's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
Upcoming dividend payment

Purchase Community Bank System before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CBU Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 477 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CBU Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.60 9.00
2019-12-31 1.54 9.00
NYSE:CBU Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-16 1.520 2.359
2019-02-21 1.520 2.414
2018-11-21 1.520 2.488
2018-08-15 1.520 2.445
2018-05-17 1.360 2.203
2018-02-21 1.360 2.444
2017-11-16 1.360 2.513
2017-08-16 1.360 2.556
2017-05-18 1.280 2.322
2017-02-21 1.280 2.287
2016-11-18 1.280 2.157
2016-08-19 1.280 2.678
2016-05-20 1.240 2.942
2016-02-18 1.240 3.220
2015-11-20 1.240 3.213
2015-08-20 1.240 3.263
2015-05-21 1.200 3.198
2015-02-19 1.200 3.396
2014-11-25 1.200 3.307
2014-07-21 1.200 3.378
2014-05-20 1.120 3.102
2014-02-25 1.120 2.982
2013-11-25 1.120 3.002
2013-08-21 1.120 3.202
2013-05-10 1.080 3.451
2013-02-25 1.080 3.726
2013-01-22 1.080 3.755
2012-08-23 1.080 3.906
2012-05-10 1.040 3.857
2012-01-23 1.040 3.706
2011-10-25 1.040 3.922
2011-07-26 1.040 4.378
2011-05-27 0.960 3.930
2011-01-24 0.960 3.894
2010-10-26 0.960 3.723
2010-07-22 0.960 4.103
2010-04-26 0.960 4.112
2010-01-25 0.880 3.906
2009-10-22 0.880 4.681
2009-07-22 0.880 4.853

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Community Bank System's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Community Bank System's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Community Bank System afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Community Bank System has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Community Bank System's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mark Tryniski
COMPENSATION $2,962,791
AGE 58
TENURE AS CEO 12.8 years
CEO Bio

Mr. Mark E. Tryniski has been the President and Chief Executive Officer at Community Bank System Inc., and its subsidiary, Community Bank, National Association (DeWitt, NY) since August 1, 2006. Mr. Tryniski served as the Chief Operating Officer at Community Bank System Inc. from March 2004 to July 2006 and also served as its Executive Vice President from March 2004 to July 2006 and as the Chief Financial Officer from July 2003 to February 2004. He served as Treasurer of Community Bank System Inc, from June 2003 to March 2004. He served as the Chief Operating Officer of Community Bank, N.A. since June 1, 2003. He was responsible for all Banking, Financial Services, Treasury Management, Technology and Human Resource Operations of Community Bank System Inc. Prior to joining Community Bank in June 2003, he was a Partner at PricewaterhouseCoopers LLP in Syracuse, New York, with 18 years of experience working at SEC registrants in Banking and Other Industries. He has been of Chairman of the Board of CONMED Corporation since February 25, 2014. Mr. Tryniski has been a Director of Community Bank System Inc. since May 16, 2006. He serves as a Director of New York Business Development Corporation. He has been Director of CONMED Corp. since May 2007. He served as Lead Independent Director of CONMED Corp. since May 2007 until February 2014. He is active in many Civic and Educational Organizations and serves on the Boards of Directors of the Everson Museum of Art, the Hospice Foundation of Central New York and the State University of New York at Oswego. He holds a B.S. degree from the State University of New York at Oswego is a Certified Public Accountant.

CEO Compensation
  • Mark's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mark's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Community Bank System management team in years:

6
Average Tenure
56
Average Age
  • The average tenure for the Community Bank System management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mark Tryniski

TITLE
President
COMPENSATION
$3M
AGE
58
TENURE
12.8 yrs

Joe Sutaris

TITLE
Executive VP
COMPENSATION
$911K
AGE
51
TENURE
0.9 yrs

Scott Kingsley

TITLE
Executive VP & COO
COMPENSATION
$1M
AGE
53
TENURE
0.9 yrs

Joe Getman

TITLE
Executive VP & General Counsel
COMPENSATION
$882K
AGE
61
TENURE
11.3 yrs

Joe Serbun

TITLE
Executive VP & Chief Credit Officer
COMPENSATION
$673K
AGE
57
TENURE
9.3 yrs

Joseph Lemchak

TITLE
Senior VP & Chief Investment Officer
AGE
56
TENURE
28 yrs

Aaron Friot

TITLE
Senior VP & CTO
TENURE
1.5 yrs

Susan Fox

TITLE
Senior VP & Chief Information Officer
TENURE
2.6 yrs

Dorothy Quarltere

TITLE
Chief Compliance Officer

Hal Wentworth

TITLE
Senior Vice President of Retail Banking & Marketing
AGE
53
Board of Directors Tenure

Average tenure and age of the Community Bank System board of directors in years:

6.3
Average Tenure
57.5
Average Age
  • The tenure for the Community Bank System board of directors is about average.
Board of Directors

Sally Steele

TITLE
Chair of the Board
COMPENSATION
$134K
AGE
62
TENURE
2.3 yrs

Mark Tryniski

TITLE
President
COMPENSATION
$3M
AGE
58
TENURE
12.8 yrs

Brian Ace

TITLE
Director
COMPENSATION
$106K
AGE
63
TENURE
15.5 yrs

Mark Bolus

TITLE
Director
COMPENSATION
$104K
AGE
52
TENURE
9.3 yrs

Neil Fesette

TITLE
Director
COMPENSATION
$103K
AGE
52
TENURE
9.3 yrs

John Parente

TITLE
Director
COMPENSATION
$104K
AGE
51
TENURE
9.3 yrs

John Whipple

TITLE
Lead Director
COMPENSATION
$114K
AGE
62
TENURE
1.3 yrs

Michael Kallet

TITLE
Director
COMPENSATION
$99K
AGE
68
TENURE
3.4 yrs

Rick Stickels

TITLE
Director
COMPENSATION
$99K
AGE
57
TENURE
3.4 yrs

Trey Pecor

TITLE
Director
COMPENSATION
$96K
AGE
48
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • Community Bank System insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. May 19 Sell Michael Kallet Individual 20. May 19 20. May 19 -3,100 $64.83 $-200,961
20. Mar 19 Sell Michael Kallet Individual 18. Mar 19 18. Mar 19 -6,725 $62.49 $-420,212
08. Feb 19 Sell Mark Tryniski Individual 07. Feb 19 07. Feb 19 -11,369 $62.88 $-706,076
13. Dec 18 Sell Michael Kallet Individual 11. Dec 18 11. Dec 18 -1,700 $60.80 $-103,360
02. Jul 18 Sell Mark Bolus Individual 27. Jun 18 27. Jun 18 -3,693 $60.39 $-223,002
X
Management checks
We assess Community Bank System's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Community Bank System has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Despite Its High P/E Ratio, Is Community Bank System, Inc. (NYSE:CBU) Still Undervalued?

We'll look at Community Bank System, Inc.'s (NYSE:CBU) P/E ratio and reflect on what it tells us about the company's share price. … See our latest analysis for Community Bank System How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Community Bank System: P/E of 19.52 = $64.6 ÷ $3.31 (Based on the year to March 2019.) Is A High P/E Ratio Good?

Simply Wall St -

Should You Be Worried About Insider Transactions At Community Bank System, Inc. (NYSE:CBU)?

So we'll take a look at whether insiders have been buying or selling shares in Community Bank System, Inc. … Community Bank System Insider Transactions Over The Last Year. … As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation

Simply Wall St -

Is Community Bank System, Inc.'s (NYSE:CBU) CEO Salary Justified?

How Does Mark Tryniski's Compensation Compare With Similar Sized Companies. … is worth US$3.2b, and total annual CEO compensation is US$3.0m. … We think total compensation is more important but we note that the CEO salary is lower, at US$800k.

Simply Wall St -

How Community Bank System, Inc. (NYSE:CBU) Can Impact Your Portfolio Volatility

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

What Type Of Shareholder Owns Community Bank System, Inc.'s (NYSE:CBU)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of US$3.0b, Community Bank System is rather large. … Companies of this size are usually well known to retail investors, too.

Simply Wall St -

Introducing Community Bank System, A Stock That Climbed 70% In The Last Five Years

To wit, the Community Bank System share price has climbed 70% in five years, easily topping the market return of 41% (ignoring dividends). … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During five years of share price growth, Community Bank System achieved compound earnings per share (EPS) growth of 11% per year.

Simply Wall St -

Is There Now An Opportunity In Community Bank System, Inc. (NYSE:CBU)?

saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Today I will analyse the most recent data on Community Bank System’s outlook and valuation to see if the opportunity still exists.

Simply Wall St -

What Does Community Bank System, Inc.'s (NYSE:CBU) P/E Ratio Tell You?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll show how you can use Community Bank System, Inc.'s (NYSE:CBU) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is Community Bank System, Inc.'s (NYSE:CBU) CEO Pay Fair?

Mark Tryniski became the CEO of Community Bank System, Inc. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Mark Tryniski's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Could The Community Bank System, Inc. (NYSE:CBU) Ownership Structure Tell Us Something Useful?

A look at the shareholders of Community Bank System, Inc. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Companies of this size are usually well known to retail investors, too.

Simply Wall St -

Company Info

Description

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 checking, savings, and money market accounts, as well as time deposits. It also provides loans comprising consumer mortgages; general purpose commercial and industrial loans, and mortgages on commercial properties; installment loans that are originated through selected dealerships and are secured by automobiles, marine, and other recreational vehicles; personal installment loans and lines of credit for consumers; and home equity products. In addition, the company offers broker-dealer and investment advisory services; and asset management services to individuals, corporations, corporate pension and profit sharing plans, and foundations, as well as operates as a full-service insurance agency that offers personal and commercial property insurance, and other risk management products and services. Further, it offers contribution plan administration services, actuarial and benefits consulting services, and collective investment fund administration and institutional trust services, as well as employee benefit trust, retirement plan administration, VEBA/HRA, and health and welfare consulting services. Additionally, the company provides wealth management, higher educational planning, fiduciary, risk management, and personal financial planning services; and investment alternatives, including stocks, bonds, mutual funds, and advisory products, as well as transfer agency and master recordkeeping services. As of December 31, 2018, it had 224 branches in Upstate New York, as well as Northeastern Pennsylvania, Vermont, and Western Massachusetts. Community Bank System, Inc. was founded in 1866 and is headquartered in DeWitt, New York.

Details
Name: Community Bank System, Inc.
CBU
Exchange: NYSE
Founded: 1866
$3,297,858,816
51,529,044
Website: http://cbna.com
Address: Community Bank System, Inc.
5790 Widewaters Parkway,
DeWitt,
New York, 13214,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CBU Common Stock New York Stock Exchange US USD 22. Nov 1985
DB CBY Common Stock Deutsche Boerse AG DE EUR 22. Nov 1985
Number of employees
Current staff
Staff numbers
2,797
Community Bank System employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 23:34
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/04/25
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.