City (NASDAQ:CHCO) Announces Earnings Results

City (NASDAQ:CHCO) announced its quarterly earnings results on Thursday. The bank reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10, Zacks reports. The firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 32.12% and a return on equity of 17.42%.

City Price Performance

Shares of City stock traded down $1.47 on Friday, hitting $115.27. 38,475 shares of the company traded hands, compared to its average volume of 57,003. The stock has a market capitalization of $1.70 billion, a P/E ratio of 14.50 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80. City has a 52 week low of $89.95 and a 52 week high of $125.54. The business has a 50-day simple moving average of $116.97 and a 200 day simple moving average of $110.68.

City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.79 per share. This is a boost from City’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.74%. City’s dividend payout ratio (DPR) is presently 39.75%.

Insider Buying and Selling

In other City news, Director James L. Rossi sold 1,000 shares of City stock in a transaction on Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the transaction, the director now directly owns 18,233 shares of the company’s stock, valued at $2,096,795. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the sale, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $231,240. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James L. Rossi sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the sale, the director now directly owns 18,233 shares of the company’s stock, valued at $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.45% of the stock is currently owned by company insiders.

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.