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

City Holding (NASDAQ:CHCO - Get Free Report) announced a quarterly dividend on Wednesday, March 26th, Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be paid a dividend of 0.79 per share by the bank on Wednesday, April 30th. This represents a $3.16 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, April 15th.

City has raised its dividend by an average of 8.8% per year over the last three years. City has a dividend payout ratio of 40.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect City to earn $7.97 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 39.6%.

City Price Performance

Shares of NASDAQ CHCO traded down $0.03 during midday trading on Monday, reaching $117.47. The company's stock had a trading volume of 63,374 shares, compared to its average volume of 57,128. City has a one year low of $97.50 and a one year high of $137.28. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 14.89 and a beta of 0.48. The company has a 50 day moving average price of $118.08 and a 200 day moving average price of $120.68. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, equities research analysts expect that City will post 7.58 EPS for the current year.

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Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on City from $120.00 to $130.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price target on shares of City from $135.00 to $125.00 and set a "neutral" rating for the company in a research report on Friday, January 24th.

Insider Buying and Selling at City

In other news, CFO David L. Bumgarner sold 556 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the transaction, the chief financial officer now directly owns 9,395 shares in the company, valued at $1,127,400. The trade was a 5.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles W. Fairchilds sold 500 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the sale, the director now owns 1,014 shares of the company's stock, valued at approximately $122,187. This represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226 shares of company stock valued at $147,200 in the last 90 days. 2.45% of the stock is currently owned by corporate 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.