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

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Friday, March 28th, Wall Street Journal reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.79 per share by the bank on Wednesday, April 30th. This represents a $3.16 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, April 15th.

City has increased its dividend by an average of 8.8% per year over the last three years. City has a payout ratio of 40.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

City stock opened at $117.50 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.72 billion, a PE ratio of 14.89 and a beta of 0.48. City has a 12-month low of $97.50 and a 12-month high of $137.28. The business’s 50-day moving average price is $118.12 and its two-hundred day moving average price is $120.62.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share 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%. As a group, analysts expect that City will post 7.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CHCO shares. Piper Sandler decreased 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. Keefe, Bruyette & Woods increased their price objective on City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling

In other news, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the completion of the sale, the director now owns 1,014 shares in the company, valued at $122,187. The trade was a 33.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David L. Bumgarner sold 556 shares of the stock in a transaction on Thursday, January 30th. The stock was 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 approximately $1,127,400. This represents a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,226 shares of company stock valued at $147,200 over the last quarter. 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.