City Holding (NASDAQ:CHCO) to Post Q3 2024 Earnings of $1.93 Per Share, DA Davidson Forecasts

City Holding (NASDAQ:CHCO) – Analysts at DA Davidson raised their Q3 2024 EPS estimates for City in a research note issued on Thursday, October 3rd. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $1.93 for the quarter, up from their prior estimate of $1.92. The consensus estimate for City’s current full-year earnings is $7.73 per share.

City Stock Up 1.1 %

Shares of NASDAQ CHCO opened at $114.66 on Friday. The stock has a market capitalization of $1.69 billion, a P/E ratio of 14.42 and a beta of 0.47. The company has a 50-day moving average price of $116.42 and a 200-day moving average price of $108.87. City has a 1 year low of $86.56 and a 1 year high of $125.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.80 and a quick ratio of 0.80.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. The business had revenue of $94.90 million during the quarter, compared to analysts’ expectations of $73.20 million. City had a net margin of 32.12% and a return on equity of 17.42%.

Institutional Trading of City

Several hedge funds and other institutional investors have recently modified their holdings of the business. Westwood Holdings Group Inc. raised its position in shares of City by 5.5% in the first quarter. Westwood Holdings Group Inc. now owns 614,511 shares of the bank’s stock valued at $64,044,000 after purchasing an additional 32,069 shares during the period. Dimensional Fund Advisors LP raised its position in shares of City by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after purchasing an additional 10,740 shares during the period. Axxcess Wealth Management LLC raised its position in shares of City by 0.4% in the first quarter. Axxcess Wealth Management LLC now owns 108,737 shares of the bank’s stock valued at $11,333,000 after purchasing an additional 469 shares during the period. Leeward Investments LLC MA grew its stake in City by 5.6% during the second quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank’s stock valued at $9,452,000 after acquiring an additional 4,725 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in City by 6.0% during the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank’s stock valued at $9,349,000 after acquiring an additional 4,989 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

Insider Activity at City

In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total transaction of $69,372.00. Following the transaction, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other City news, CEO Charles R. Hageboeck sold 7,244 shares of City stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $123.62, for a total value of $895,503.28. Following the sale, the chief executive officer now owns 45,974 shares of the company’s stock, valued at approximately $5,683,305.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction dated Monday, August 19th. The stock was 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 in the company, valued at approximately $231,240. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,413 shares of company stock valued at $1,149,561 over the last ninety days. Corporate insiders own 2.45% of the company’s stock.

City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.79 per share. This is a positive change from City’s previous quarterly dividend of $0.72. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, October 15th. City’s dividend payout ratio (DPR) is presently 39.75%.

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.