City Holding (NASDAQ:CHCO) to Issue Quarterly Dividend of $0.79

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Friday, March 28th, Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.79 per share by the bank on Wednesday, April 30th. This represents a $3.16 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, April 15th.

City has raised its dividend payment by an average of 8.8% annually over the last three years. City has a dividend payout ratio of 40.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect City to earn $7.97 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 39.6%.

City Stock Performance

Shares of NASDAQ CHCO traded down $2.23 during midday trading on Friday, hitting $117.50. 43,726 shares of the stock traded hands, compared to its average volume of 57,103. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. City has a one year low of $97.50 and a one year high of $137.28. The firm has a market capitalization of $1.72 billion, a P/E ratio of 14.89 and a beta of 0.48. The firm has a 50-day moving average of $118.12 and a two-hundred day moving average of $120.58.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, equities analysts forecast that City will post 7.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CHCO has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Insider Transactions at City

In other news, CFO David L. Bumgarner sold 556 shares of City stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the sale, the chief financial officer now owns 9,395 shares in the company, valued at $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the transaction, the director now owns 1,014 shares of the company’s stock, valued at approximately $122,187. This represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,226 shares of company stock valued at $147,200 over the last three months. Corporate insiders own 2.45% of the company’s stock.

About City

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.