City Holding (NASDAQ:CHCO) Increases Dividend to $0.79 Per Share

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Investors of record on Tuesday, October 15th will be paid a dividend of 0.79 per share by the bank on Thursday, October 31st. This represents a $3.16 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.72.

City has increased its dividend by an average of 5.3% per year over the last three years. City has a payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect City to earn $7.48 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 38.2%.

City Stock Performance

Shares of City stock opened at $116.43 on Friday. The company’s 50 day moving average price is $117.01 and its two-hundred day moving average price is $108.40. The firm has a market capitalization of $1.71 billion, a P/E ratio of 14.65 and a beta of 0.47. City has a fifty-two week low of $86.56 and a fifty-two week high of $125.54. 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 (NASDAQ:CHCO) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.08. The company had revenue of $94.90 million for the quarter, compared to the consensus estimate of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. On average, equities analysts forecast that City will post 7.73 earnings per share for the current fiscal year.

Insider Transactions at City

In other City news, EVP Michael T. Quinlan, Jr. sold 600 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 2,000 shares in the company, valued at approximately $231,240. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director J. Thomas Jones sold 569 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $122.47, for a total value of $69,685.43. Following the sale, the director now directly owns 4,411 shares in the company, valued at $540,215.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $231,240. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,413 shares of company stock worth $1,149,561. 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.