City Holding (CHCO) to Issue Quarterly Dividend of $0.79 on October 31st

City Holding (NASDAQ:CHCO) declared a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.79 per share by the bank on Thursday, October 31st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from City’s previous quarterly dividend of $0.72.

City has increased its dividend by an average of 5.3% per year over the last three years. City has a payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect City to earn $7.48 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 38.2%.

City Price Performance

CHCO opened at $116.43 on Friday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.65 and a beta of 0.47. The stock has a fifty day moving average price of $117.01 and a 200 day moving average price of $108.40. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. City has a 1 year low of $86.56 and a 1 year high of $125.54.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.08. The business had revenue of $94.90 million for the quarter, compared to the consensus estimate of $73.20 million. City had a net margin of 32.12% and a return on equity of 17.42%. Analysts forecast that City will post 7.73 EPS for the current fiscal year.

Insider Buying and Selling at City

In other news, CEO Charles R. Hageboeck sold 7,244 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $123.62, for a total value of $895,503.28. Following the completion of the sale, the chief executive officer now directly owns 45,974 shares of the company’s stock, valued at approximately $5,683,305.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Charles R. Hageboeck sold 7,244 shares of City stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $123.62, for a total transaction of $895,503.28. Following the completion of the sale, the chief executive officer now owns 45,974 shares of the company’s stock, valued at $5,683,305.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J. Thomas Jones sold 569 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $122.47, for a total value of $69,685.43. Following the transaction, the director now directly owns 4,411 shares of the company’s stock, valued at approximately $540,215.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,413 shares of company stock worth $1,149,561. Insiders own 2.45% of the company’s stock.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.