City Holding (CHCO) to Issue Quarterly Dividend of $0.79 on April 30th

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

City has raised its dividend payment by an average of 8.8% annually over the last three years. City has a dividend payout ratio of 40.2% indicating that 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 Trading Down 1.9 %

City stock opened at $117.50 on Friday. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 14.89 and a beta of 0.48. The firm has a 50-day moving average of $118.12 and a 200-day moving average of $120.62. The company has a debt-to-equity ratio of 0.21, 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.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, equities analysts expect that City will post 7.58 earnings per share for the current fiscal year.

Insider Buying and Selling at City

In other news, CFO David L. Bumgarner sold 556 shares of City 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 completion of the sale, the chief financial officer now owns 9,395 shares of the company’s stock, valued at approximately $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the transaction, the director now owns 1,014 shares in the company, valued at approximately $122,187. The trade was a 33.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,226 shares of company stock worth $147,200 over the last ninety days. Insiders own 2.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CHCO. Keefe, Bruyette & Woods upped their price target on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler cut their target price on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, January 24th.

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.