City Holding (NASDAQ:CHCO) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.57 per share by the bank on Thursday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, October 11th. This is an increase from City’s previous quarterly dividend of $0.53.
City has raised its dividend by an average of 15.5% annually over the last three years and has increased its dividend every year for the last 7 years. City has a dividend payout ratio of 46.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect City to earn $5.37 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 42.5%.
Shares of NASDAQ:CHCO opened at $74.50 on Wednesday. The company has a market capitalization of $1.22 billion, a PE ratio of 14.44 and a beta of 0.78. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. City has a twelve month low of $65.32 and a twelve month high of $83.04. The firm has a 50 day simple moving average of $75.45 and a 200-day simple moving average of $76.11.
City (NASDAQ:CHCO) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.08. The business had revenue of $58.74 million during the quarter, compared to the consensus estimate of $57.24 million. City had a net margin of 30.14% and a return on equity of 14.52%. As a group, equities research analysts predict that City will post 5.35 EPS for the current fiscal year.
In related news, CFO David L. Bumgarner sold 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $76.65, for a total value of $76,650.00. Following the completion of the sale, the chief financial officer now owns 8,936 shares in the company, valued at approximately $684,944.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig G. Stilwell sold 2,700 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $74.92, for a total transaction of $202,284.00. Following the completion of the sale, the executive vice president now owns 15,696 shares of the company’s stock, valued at approximately $1,175,944.32. The disclosure for this sale can be found here. 3.36% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on CHCO. Boenning Scattergood restated a “neutral” rating on shares of City in a research report on Thursday, June 20th. Zacks Investment Research downgraded shares of City from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, BidaskClub upgraded shares of City from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th.
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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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