City (NASDAQ:CHCO) Releases Earnings Results, Beats Expectations By $0.10 EPS

City (NASDAQ:CHCO) announced its quarterly earnings data on Thursday. The bank reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.10, Zacks reports. City had a return on equity of 17.42% and a net margin of 32.12%. The business had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $73.90 million.

City Stock Down 1.3 %

Shares of CHCO stock traded down $1.47 during trading hours on Friday, reaching $115.27. 38,475 shares of the stock were exchanged, compared to its average volume of 57,003. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.80 and a quick ratio of 0.80. City has a 12-month low of $89.95 and a 12-month high of $125.54. The firm has a market capitalization of $1.70 billion, a P/E ratio of 14.50 and a beta of 0.47. The business’s fifty day moving average is $116.97 and its two-hundred day moving average is $110.68.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, October 15th. This is a boost from City’s previous quarterly dividend of $0.72. City’s dividend payout ratio (DPR) is presently 39.75%.

Insider Buying and Selling at City

In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total value of $69,372.00. Following the sale, the executive vice president now directly owns 2,000 shares in the company, valued at $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares in the company, valued at $231,240. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the sale, the director now directly owns 18,233 shares in the company, valued at approximately $2,096,795. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.45% 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.