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

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Shareholders of record on Tuesday, October 15th will be paid a dividend of 0.79 per share by the bank on Thursday, October 31st. This represents a $3.16 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.72.

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 38.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect City to earn $7.48 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 38.2%.

City Stock Performance

NASDAQ CHCO opened at $116.43 on Friday. City has a 52-week low of $86.56 and a 52-week high of $125.54. The company has a fifty day moving average of $117.01 and a 200-day moving average of $108.40. The company has a market capitalization of $1.72 billion, a P/E ratio of 14.65 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.08. The firm had revenue of $94.90 million during the quarter, compared to analyst estimates of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. As a group, equities research analysts predict that City will post 7.73 EPS for the current fiscal year.

Insider Activity

In other City news, Director J. Thomas Jones sold 569 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $122.47, for a total transaction of $69,685.43. Following the completion of the sale, the director now owns 4,411 shares of the company’s stock, valued at approximately $540,215.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $115.62, for a total value of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares in the company, valued at $231,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Thomas Jones sold 569 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $122.47, for a total transaction of $69,685.43. Following the completion of the sale, the director now owns 4,411 shares in the company, valued at approximately $540,215.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,413 shares of company stock valued at $1,149,561. Corporate 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.