City (NASDAQ:CHCO) Posts Earnings Results, Beats Expectations By $0.03 EPS

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

City Stock Down 2.5 %

City stock opened at $115.84 on Friday. City has a fifty-two week low of $97.50 and a fifty-two week high of $137.28. The firm has a market capitalization of $1.70 billion, a PE ratio of 14.87 and a beta of 0.51. The company’s 50-day moving average is $123.97 and its 200-day moving average is $120.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, January 15th. City’s dividend payout ratio (DPR) is presently 40.56%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director C Dallas Kayser sold 1,784 shares of City stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the sale, the director now owns 23,637 shares of the company’s stock, valued at approximately $3,151,521.21. The trade was a 7.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John A. Derito sold 1,243 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the transaction, the executive vice president now directly owns 28,757 shares in the company, valued at approximately $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,092 shares of company stock worth $1,196,697. Company 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.