Community Bank System: Q2 Earnings Insights

Shares of Community Bank System CBU were unchanged in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 5.00% year over year to $0.76, which beat the estimate of $0.60.

Revenue of $144,889,000 declined by 2.76% year over year, which missed the estimate of $148,040,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Jul 27, 2020

Time: 11:00 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/995/35311

Price Action

Company's 52-week high was at $72.63

Company's 52-week low was at $47.01

Price action over last quarter: down 0.77%

Company Overview

Community Bank System is a financial holding company. The company primarily operates through two wholly-owned subsidiaries: Community Bank, N.A. and Benefit Plans Administrative Services. Community Bank's business is operating a community bank providing a broad array of banking and financial services. These are offered chiefly to retail, commercial, and municipal customers in nonmetropolitan markets, including small towns in upstate New York and Northeastern Pennsylvania. The company has historically relied on acquisitions to fuel growth, in addition to growing organically. A majority of its loan portfolio is tilted toward the consumer market on an installment, line of credit, or residential mortgage loan basis. The majority of the company's net revenue is net interest income.