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

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders 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 dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, January 15th.

City has raised its dividend payment by an average of 5.3% per year over the last three years. City has a 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

City stock opened at $131.91 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. City has a one year low of $95.39 and a one year high of $137.28. The company has a market cap of $1.94 billion, a P/E ratio of 16.93 and a beta of 0.46. The business has a fifty day moving average of $121.05 and a two-hundred day moving average of $114.18.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.92 by $0.10. City had a net margin of 31.18% and a return on equity of 16.60%. The firm had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. As a group, analysts predict that City will post 7.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 6,065 shares of the company’s 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 $5,847,969.22. This 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 available through the SEC website. Also, EVP John A. Derito sold 1,243 shares of City stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the sale, the executive vice president now owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,092 shares of company stock worth $1,196,697. Insiders own 2.39% of the company’s stock.

Wall Street Analyst Weigh In

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

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.