Community Bank (CBU) Reports Q3 Earnings: What Key Metrics Have to Say

CBU

Community Bank System (CBU - Free Report) reported $175.37 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 0.2%. EPS of $0.82 for the same period compares to $0.90 a year ago.

The reported revenue represents a surprise of -1.59% over the Zacks Consensus Estimate of $178.2 million. With the consensus EPS estimate being $0.88, the EPS surprise was -6.82%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Community Bank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency Ratio: 66.4% compared to the 63% average estimate based on three analysts.
  • Net Interest Margin: 3.1% compared to the 3.1% average estimate based on three analysts.
  • Net charge-offs to average loans: 0.1% versus the three-analyst average estimate of 0.1%.
  • Average balance-Total interest-earning assets: $13.95 billion compared to the $13.97 billion average estimate based on two analysts.
  • Total Non-Interest Income: $67.59 million compared to the $66.81 million average estimate based on three analysts.
  • Deposit service fees and other banking services: $17.48 million versus $17.77 million estimated by two analysts on average.
  • Mortgage banking: $0.11 million versus $0.11 million estimated by two analysts on average.
  • Employee benefit services: $30 million versus the two-analyst average estimate of $29.18 million.
  • Tax-Equivalent Net Interest Income: $108.82 million versus the two-analyst average estimate of $110.87 million.
  • Wealth management and insurance services: $20.05 million compared to the $20.01 million average estimate based on two analysts.
View all Key Company Metrics for Community Bank here>>>

Shares of Community Bank have returned -5.2% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Research Chief Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Free: See Our Top Stock And 4 Runners Up