City Holding (NASDAQ:CHCO) Plans Quarterly Dividend of $0.79

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Friday, March 28th, Wall Street Journal reports. Shareholders 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 yield of 2.69%. The ex-dividend date is Tuesday, April 15th.

City has raised its dividend payment by an average of 8.8% per year over the last three years. City has a 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 Price Performance

CHCO stock traded down $2.23 during midday trading on Friday, reaching $117.50. 43,714 shares of the stock were exchanged, compared to its average volume of 57,244. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $1.72 billion, a PE ratio of 14.89 and a beta of 0.48. City has a 52 week low of $97.50 and a 52 week high of $137.28. The company has a fifty day moving average price of $118.17 and a 200 day moving average price of $120.56.

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

Insiders Place Their Bets

In other news, CFO David L. Bumgarner sold 556 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the transaction, the chief financial officer now owns 9,395 shares of the company’s stock, valued at $1,127,400. This represents a 5.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the transaction, the director now directly owns 1,014 shares in the company, valued at approximately $122,187. This trade represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,226 shares of company stock worth $147,200. 2.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.