City Holding (NASDAQ:CHCO) Announces Dividend Increase – $0.79 Per Share

City Holding (NASDAQ:CHCO) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Investors of record on Tuesday, October 15th will be paid a dividend of 0.79 per share by the bank on Thursday, October 31st. This represents a $3.16 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Tuesday, October 15th. This is an increase from City’s previous quarterly dividend of $0.72.

City has increased its dividend payment by an average of 5.3% annually over the last three years. City has a payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect City to earn $7.48 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 38.2%.

City Trading Up 1.2 %

Shares of NASDAQ CHCO opened at $116.43 on Friday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 14.65 and a beta of 0.47. City has a 12-month low of $86.56 and a 12-month high of $125.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $117.01 and its 200 day simple moving average is $108.40.

City (NASDAQ:CHCO) last announced its earnings results on Tuesday, July 23rd. The bank reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.08. The firm had revenue of $94.90 million for the quarter, compared to the consensus estimate of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. Equities research analysts expect that City will post 7.73 EPS for the current year.

Insider Buying and Selling at City

In other City news, Director J. Thomas Jones sold 569 shares of City stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $122.47, for a total transaction of $69,685.43. Following the sale, the director now owns 4,411 shares of the company’s stock, valued at approximately $540,215.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Charles R. Hageboeck sold 7,244 shares of City stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $123.62, for a total transaction of $895,503.28. Following the transaction, the chief executive officer now directly owns 45,974 shares in the company, valued at approximately $5,683,305.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director J. Thomas Jones sold 569 shares of City stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $122.47, for a total value of $69,685.43. Following the transaction, the director now owns 4,411 shares in the company, valued at $540,215.17. The disclosure for this sale can be found here. Insiders have sold 9,413 shares of company stock valued at $1,149,561 in the last quarter. Corporate 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.