City Holding Declares Quarterly Dividend of $0.79 (NASDAQ:CHCO)

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.79 per share by the bank on Friday, January 31st. This represents a $3.16 annualized dividend and a yield of 2.36%. The ex-dividend date is Wednesday, January 15th.

City has raised its dividend by an average of 5.3% per year over the last three years. City has a dividend payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect City to earn $7.51 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 42.1%.

City Price Performance

Shares of CHCO stock traded up $2.17 during trading hours on Monday, reaching $133.96. The company had a trading volume of 79,496 shares, compared to its average volume of 56,786. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average of $120.75 and a 200-day moving average of $113.98. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 17.34 and a beta of 0.46. City has a 12-month low of $95.39 and a 12-month high of $137.28.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. On average, equities analysts anticipate that City will post 7.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated a “neutral” rating and issued a $135.00 price target on shares of City in a research report on Friday, November 8th.

Insider Activity at City

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $130.03, for a total value of $788,631.95. Following the sale, the chief executive officer now directly owns 44,974 shares in the company, valued at approximately $5,847,969.22. This trade represents a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the transaction, the director now directly owns 23,637 shares in the company, valued at $3,151,521.21. This trade represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. 2.39% of the stock is currently owned by insiders.

About City

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.