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Community Bank: Q4 Earnings Snapshot
By AP News - Jan 23, 2024, 07:06 AM ET
Last Updated - Jan 23, 2024, 07:06 AM EST
DEWITT, N.Y. (AP) — DEWITT, N.Y. (AP) — Community Bank System Inc. (CBU) on Tuesday reported fourth-quarter earnings of $38.3 million.
The bank, based in Dewitt, New York, said it had earnings of 71 cents per share. Earnings, adjusted for non-recurring costs, came to 76 cents per share.
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The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The bank holding company posted revenue of $214.1 million in the period. Its revenue net of interest expense was $178 million, which beat Street forecasts.
For the year, the company reported profit of $136.5 million, or $2.53 per share. Revenue was reported as $656.4 million.
Community Bank shares have fallen almost 3% since the beginning of the year. The stock has fallen 17% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBU at https://www.zacks.com/ap/CBU
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