City (NASDAQ:CHCO) Issues Quarterly Earnings Results

City (NASDAQ:CHCO) issued its earnings results on Thursday. The bank reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10, Zacks reports. The business had revenue of $98.40 million for the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 32.12% and a return on equity of 17.42%.

City Stock Down 1.3 %

NASDAQ CHCO traded down $1.47 on Friday, reaching $115.27. 38,475 shares of the stock traded hands, compared to its average volume of 57,003. City has a 12 month low of $89.95 and a 12 month high of $125.54. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 14.50 and a beta of 0.47. The company has a fifty day moving average price of $116.97 and a 200-day moving average price of $110.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.79 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $3.16 annualized dividend and a yield of 2.74%. This is a boost from City’s previous quarterly dividend of $0.72. City’s dividend payout ratio is 39.75%.

Insider Transactions at City

In related news, 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 value 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 $231,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the sale, the director now owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.