City (NASDAQ:CHCO) Releases Earnings Results, Beats Expectations By $0.03 EPS

City (NASDAQ:CHCO) announced its quarterly earnings data on Thursday. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.91 by $0.03, Zacks reports. City had a net margin of 31.18% and a return on equity of 16.60%.

City Price Performance

Shares of CHCO stock opened at $118.79 on Friday. The company’s 50-day simple moving average is $124.25 and its two-hundred day simple moving average is $119.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. City has a one year low of $97.50 and a one year high of $137.28. The company has a market capitalization of $1.75 billion, a P/E ratio of 15.25 and a beta of 0.51.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.66%. The ex-dividend date is Wednesday, January 15th. City’s dividend payout ratio is presently 40.56%.

Insider Activity

In related news, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the transaction, the director now directly owns 23,637 shares of the company’s stock, valued at $3,151,521.21. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John A. Derito sold 1,243 shares of City stock in a transaction on Monday, November 25th. The shares were sold at an average price of $136.93, for a total value of $170,203.99. Following the completion of the transaction, the executive vice president now owns 28,757 shares in the company, valued at $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,092 shares of company stock valued at $1,196,697. Corporate insiders own 2.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHCO. Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price objective on shares of City in a research note on Friday, November 8th. 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 report on Wednesday, December 4th.

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.