City (NASDAQ:CHCO) Posts Earnings Results, Beats Expectations By $0.03 EPS

City (NASDAQ:CHCO) announced its earnings results on Thursday. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.03, Zacks reports. City had a return on equity of 16.60% and a net margin of 31.18%.

City Stock Performance

NASDAQ:CHCO opened at $118.57 on Thursday. City has a twelve month low of $97.50 and a twelve month high of $137.28. The company has a market cap of $1.74 billion, a P/E ratio of 15.26 and a beta of 0.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $124.49 and its 200-day moving average price is $119.98.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Wednesday, January 15th. City’s dividend payout ratio (DPR) is 40.56%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler restated a “neutral” rating and set a $135.00 price objective on shares of City in a research report on Friday, November 8th. Keefe, Bruyette & Woods upped their price target on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling at City

In related news, EVP John A. Derito sold 1,243 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the sale, the executive vice president now directly owns 28,757 shares in the company, valued at approximately $3,937,696.01. This trade represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the transaction, the chief executive officer now owns 44,974 shares in the company, valued at $5,847,969.22. The trade was a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,092 shares of company stock worth $1,196,697. 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.