City Holding Company (CHCO) to Distribute Quarterly Dividend of $1.00 on October 30th

City Holding Company (NASDAQ:CHCO) announced a quarterly dividend on Wednesday, September 30th. Investors of record on Thursday, October 15th will be given a dividend of $1.00 per share by the bank on Friday, October 30th. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 15th. This is a 14.9% increase from City’s previous quarterly dividend of $0.87.

City has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. City has a dividend payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Analysts expect City to earn $9.73 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 41.1%.

City Stock Down 0.0%

CHCO opened at $139.94 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 15.31 and a beta of 0.49. City has a twelve month low of $113.21 and a twelve month high of $148.99. The company’s 50-day moving average price is $143.40 and its two-hundred day moving average price is $133.70.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The company had revenue of $81.52 million for the quarter, compared to analysts’ expectations of $80.64 million. As a group, equities analysts expect that City will post 9.32 earnings per share for the current year.

Insider Activity

In other news, Director Sharon H. Rowe sold 400 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total value of $57,584.00. Following the sale, the director directly owned 10,576 shares of the company’s stock, valued at approximately $1,522,520.96. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Hageboeck sold 4,485 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the completion of the sale, the chief executive officer directly owned 43,998 shares in the company, valued at approximately $6,377,950.08. The trade was a 9.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 444 shares of company stock worth $59,740. Company insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHCO. Allworth Financial LP bought a new stake in City during the second quarter valued at $27,000. Archer Investment Corp purchased a new position in City during the second quarter worth about $49,000. Global Retirement Partners LLC bought a new position in City in the 2nd quarter worth about $58,000. Geneos Wealth Management Inc. increased its stake in City by 93.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 676 shares of the bank’s stock worth $81,000 after acquiring an additional 326 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in City in the 2nd quarter worth about $125,000. 72.43% of the stock is owned by institutional investors.

About City

City Holding Company is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides a range of financial services to individuals, businesses and organizations.

City National Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal loans, mortgage services and other traditional banking products. The bank also provides wealth management, trust, investment and related financial planning services.

Founded in 1982, City Holding Company serves customers through a community banking network operating primarily in West Virginia, Virginia, Ohio and Kentucky.