Community Financial System Inc (CBU)

Community Bank System Stock (CBU) dropped by 5.44% from $39.73 to $37.57 in the trading on Tuesday October 24, 2023. The reason why CBU stock down today is due to its Q3 2023 earnings. CBU delivered results in Q3 2023 today, but the company missed the consensus for its revenue, seemed to weigh on the stock as did the broader market sell-off, causing CBU stock down today.

• Q3 Non-GAAP EPS of $0.82, misses the consensus by $0.06, compares to $0.90 a year ago.
• Revenue of $175.4M, misses the consensus by $0.6M, representing a year-over-year decline of 0.2%.
• Ending deposits at September 30, 2023 of $13.03 billion were $159.0 million, or 1.2%, higher than the second quarter of 2023 and $455.5 million, or 3.4%, lower than one year prior.