City (NASDAQ:CHCO) posted its quarterly earnings results on Sunday. The bank reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.33, MarketWatch Earnings reports. City had a return on equity of 13.07% and a net margin of 33.35%.
NASDAQ CHCO traded up $1.02 on Tuesday, reaching $74.05. The stock had a trading volume of 60,004 shares, compared to its average volume of 70,163. The business has a 50 day moving average price of $70.39 and a 200 day moving average price of $64.62. City has a 1 year low of $53.06 and a 1 year high of $80.40. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.21 and a beta of 0.67.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 15th will be paid a $0.58 dividend. The ex-dividend date is Thursday, January 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.13%. This is an increase from City’s previous quarterly dividend of $0.57. City’s payout ratio is 42.49%.
Several research analysts recently weighed in on CHCO shares. Piper Sandler upped their price target on City from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 27th. Zacks Investment Research lowered City from a “buy” rating to a “hold” rating in a research report on Monday, January 4th. Four equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $67.33.
In other news, EVP Craig G. Stilwell sold 2,602 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $67.88, for a total transaction of $176,623.76. Following the completion of the sale, the executive vice president now owns 13,637 shares in the company, valued at approximately $925,679.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles R. Hageboeck sold 7,290 shares of the company’s stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $69.89, for a total value of $509,498.10. Following the sale, the chief executive officer now owns 47,676 shares of the company’s stock, valued at approximately $3,332,075.64. The disclosure for this sale can be found here. Insiders own 3.42% of the company’s stock.
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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
Featured Story: Quick Ratio
Receive News & Ratings for City Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for City and related companies with MarketBeat.com's FREE daily email newsletter.