City Holding (NASDAQ:CHCO) Plans Quarterly Dividend of $0.72

City Holding (NASDAQ:CHCO) declared a quarterly dividend on Wednesday, March 27th, Zacks reports. Investors of record on Monday, April 15th will be paid a dividend of 0.715 per share by the bank on Tuesday, April 30th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, April 12th.

City has raised its dividend by an average of 5.3% annually over the last three years and has increased its dividend every year for the last 11 years. City has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 0.2 %

Shares of City stock opened at $104.22 on Friday. The company’s fifty day simple moving average is $102.47 and its two-hundred day simple moving average is $99.48. City has a 12-month low of $82.53 and a 12-month high of $115.89. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.55 billion, a P/E ratio of 13.70 and a beta of 0.50.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). The firm had revenue of $86.10 million during the quarter, compared to analysts’ expectations of $72.50 million. City had a net margin of 33.31% and a return on equity of 18.62%. Research analysts anticipate that City will post 7.43 EPS for the current year.

Insider Buying and Selling

In other news, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $101.00, for a total value of $898,799.00. Following the transaction, the chief executive officer now owns 53,218 shares of the company’s stock, valued at $5,375,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other City news, Director Charles W. Fairchilds sold 600 shares of City stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.00, for a total value of $63,600.00. Following the completion of the transaction, the director now directly owns 2,014 shares of the company’s stock, valued at approximately $213,484. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles R. Hageboeck sold 8,899 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $101.00, for a total transaction of $898,799.00. Following the completion of the transaction, the chief executive officer now directly owns 53,218 shares of the company’s stock, valued at approximately $5,375,018. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,808 shares of company stock valued at $1,094,935. 2.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On City

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in City by 229.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 128,403 shares of the bank’s stock valued at $14,158,000 after buying an additional 89,408 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of City by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,521 shares of the bank’s stock worth $1,161,000 after purchasing an additional 983 shares during the last quarter. Barclays PLC raised its stake in shares of City by 65.4% during the 4th quarter. Barclays PLC now owns 32,135 shares of the bank’s stock worth $3,543,000 after acquiring an additional 12,706 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of City by 1.8% during the fourth quarter. Nuveen Asset Management LLC now owns 39,283 shares of the bank’s stock worth $4,331,000 after purchasing an additional 683 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in City during the 4th quarter valued at about $597,000. 72.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CHCO. Piper Sandler upped their price target on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Stephens boosted their price objective on shares of City from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th.

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.