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