City (NASDAQ:CHCO) Issues Earnings Results, Beats Estimates By $0.10 EPS

City (NASDAQ:CHCO - Get Free Report) released its quarterly earnings data on Thursday. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.92 by $0.10, Zacks reports. The firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 32.12% and a return on equity of 17.42%.

City Stock Performance

CHCO stock traded down $1.47 during mid-day trading on Friday, hitting $115.27. 38,475 shares of the company were exchanged, compared to its average volume of 57,003. City has a 1-year low of $89.95 and a 1-year high of $125.54. The stock has a market capitalization of $1.70 billion, a PE ratio of 14.50 and a beta of 0.47. The business has a 50 day simple moving average of $116.97 and a 200-day simple moving average of $110.68. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.79 dividend. This is a boost from City's previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 2.74%. The ex-dividend date is Tuesday, October 15th. City's dividend payout ratio is currently 39.75%.

Insider Activity

In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares of the company's stock, valued at approximately $231,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares of the company's stock, valued at approximately $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James L. Rossi sold 1,000 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the sale, the director now directly owns 18,233 shares of the company's stock, valued at $2,096,795. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.45% of the stock is owned by company insiders.

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.