City Holding (CHCO) to Issue Quarterly Dividend of $0.79 on January 31st

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Wednesday, January 15th.

City has increased its dividend payment by an average of 5.3% per year over the last three years. City has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.5 %

Shares of CHCO stock opened at $131.91 on Wednesday. The company has a 50-day moving average of $121.05 and a two-hundred day moving average of $114.18. The firm has a market cap of $1.94 billion, a PE ratio of 16.93 and a beta of 0.46. City has a 1-year low of $95.39 and a 1-year high of $137.28. 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 (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. On average, analysts predict that City will post 7.84 EPS for the current year.

Insider Activity

In other City news, CEO Charles R. Hageboeck sold 6,065 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John A. Derito sold 1,243 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,092 shares of company stock worth $1,196,697. 2.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Piper Sandler reiterated a “neutral” rating and set a $135.00 target price on shares of City in a report on Friday, November 8th.

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.