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

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Wednesday, January 15th will be paid a dividend of 0.79 per share by the bank on Friday, January 31st. This represents a $3.16 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Wednesday, January 15th.

City has raised its dividend payment by an average of 5.3% per year over the last three years. City has a dividend payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect City to earn $7.51 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 42.1%.

City Stock Performance

Shares of CHCO traded up $2.17 during mid-day trading on Monday, hitting $133.96. 79,496 shares of the company’s stock were exchanged, compared to its average volume of 56,786. City has a fifty-two week low of $95.39 and a fifty-two week high of $137.28. The firm has a market capitalization of $1.97 billion, a P/E ratio of 17.34 and a beta of 0.46. The business’s 50 day moving average is $120.75 and its two-hundred day moving average is $113.98. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20.

City (NASDAQ:CHCO) last announced its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. On average, equities analysts expect that City will post 7.84 earnings per share for the current year.

Analyst Ratings Changes

Separately, Piper Sandler restated a “neutral” rating and issued a $135.00 price objective on shares of City in a research report on Friday, November 8th.

Insider Activity

In other news, Director C Dallas Kayser sold 1,784 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 23,637 shares of the company’s stock, valued at $3,151,521.21. The trade was a 7.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the sale, the chief executive officer now directly owns 44,974 shares of the company’s stock, valued at $5,847,969.22. This represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.39% 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.