City (NASDAQ:CHCO) Issues Quarterly Earnings Results

City (NASDAQ:CHCO) announced its quarterly earnings results on Thursday. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.03, Zacks reports. City had a return on equity of 16.60% and a net margin of 31.18%.

City Price Performance

City stock opened at $120.02 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The company’s fifty day moving average price is $124.49 and its 200 day moving average price is $119.98. The stock has a market capitalization of $1.76 billion, a P/E ratio of 15.41 and a beta of 0.51. City has a 1 year low of $97.50 and a 1 year high of $137.28.

City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, January 15th. City’s payout ratio is 40.56%.

Insider Buying and Selling at City

In other news, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the sale, the director now directly owns 23,637 shares in the company, valued at $3,151,521.21. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John A. Derito sold 1,243 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the transaction, the executive vice president now owns 28,757 shares in the company, valued at $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,092 shares of company stock valued at $1,196,697 over the last ninety days. Corporate insiders own 2.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CHCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price on shares of City in a report on Friday, November 8th. Keefe, Bruyette & Woods lifted their target price on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.