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Community Bank (CBU) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Community Bank System (CBU - Free Report) reported revenue of $176.34 million, up 5.4% over the same period last year. EPS came in at $0.91, compared to $0.85 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $180.63 million, representing a surprise of -2.38%. The company delivered an EPS surprise of +7.06%, with the consensus EPS estimate being $0.85.
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: 64.5% compared to the 63.53% average estimate based on three analysts.
Net Interest Margin: 3.14% versus 3.25% estimated by three analysts on average.
Average balance-Total interest-earning assets: $13.94 billion versus $13.98 billion estimated by two analysts on average.
Net charge-offs to average loans: 0.03% versus 0.13% estimated by two analysts on average.
Total Non-Interest Income: $65.98 million compared to the $64.42 million average estimate based on three analysts.
Deposit service fees and other banking services: $17.74 million versus the two-analyst average estimate of $16.60 million.
Mortgage banking: $0.01 million versus $0.24 million estimated by two analysts on average.
Employee benefit services: $28.57 million versus $29.59 million estimated by two analysts on average.
Tax-Equivalent Net Interest Income: $110.36 million compared to the $115.84 million average estimate based on two analysts.
Wealth management and insurance services: $17.92 million versus the two-analyst average estimate of $17.80 million.
Shares of Community Bank have returned +12.2% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Community Bank (CBU) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Community Bank System (CBU - Free Report) reported revenue of $176.34 million, up 5.4% over the same period last year. EPS came in at $0.91, compared to $0.85 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $180.63 million, representing a surprise of -2.38%. The company delivered an EPS surprise of +7.06%, with the consensus EPS estimate being $0.85.
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: 64.5% compared to the 63.53% average estimate based on three analysts.
- Net Interest Margin: 3.14% versus 3.25% estimated by three analysts on average.
- Average balance-Total interest-earning assets: $13.94 billion versus $13.98 billion estimated by two analysts on average.
- Net charge-offs to average loans: 0.03% versus 0.13% estimated by two analysts on average.
- Total Non-Interest Income: $65.98 million compared to the $64.42 million average estimate based on three analysts.
- Deposit service fees and other banking services: $17.74 million versus the two-analyst average estimate of $16.60 million.
- Mortgage banking: $0.01 million versus $0.24 million estimated by two analysts on average.
- Employee benefit services: $28.57 million versus $29.59 million estimated by two analysts on average.
- Tax-Equivalent Net Interest Income: $110.36 million compared to the $115.84 million average estimate based on two analysts.
- Wealth management and insurance services: $17.92 million versus the two-analyst average estimate of $17.80 million.
View all Key Company Metrics for Community Bank here>>>Shares of Community Bank have returned +12.2% over the past month versus the Zacks S&P 500 composite's +4.7% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.