City (NASDAQ:CHCO) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

City (NASDAQ:CHCO) issued its quarterly earnings data on Thursday. The bank reported $1.94 EPS for the quarter, topping 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 Stock Performance

Shares of CHCO stock opened at $118.79 on Friday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 15.25 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. City has a one year low of $97.50 and a one year high of $137.28. The company’s 50-day moving average is $124.25 and its 200 day moving average is $119.97.

City Dividend Announcement

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

Insiders Place Their Bets

In other City news, CEO Charles R. Hageboeck sold 6,065 shares of City stock in a transaction on Friday, November 15th. The stock was sold at an average price of $130.03, for a total value of $788,631.95. Following the completion of the sale, the chief executive officer now owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. This trade represents a 11.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the sale, the director now owns 23,637 shares of the company’s stock, valued at $3,151,521.21. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,092 shares of company stock valued at $1,196,697. Insiders own 2.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CHCO shares. Piper Sandler reissued a “neutral” rating and issued a $135.00 price target on shares of City in a research note on Friday, November 8th. Keefe, Bruyette & Woods raised their price objective on City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

About City

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.