City (NASDAQ:CHCO) Issues Earnings Results, Beats Estimates By $0.10 EPS

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

City Stock Performance

Shares of NASDAQ CHCO traded down $1.47 during trading on Friday, reaching $115.27. 38,475 shares of the company traded hands, compared to its average volume of 57,003. The firm’s fifty day simple moving average is $116.97 and its 200 day simple moving average is $110.68. The stock has a market cap of $1.70 billion, a P/E ratio of 14.50 and a beta of 0.47. City has a 12-month low of $89.95 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.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, October 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from City’s previous quarterly dividend of $0.72. City’s dividend payout ratio (DPR) is presently 39.75%.

Insider Buying and Selling 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 transaction, the executive vice president now owns 2,000 shares in the company, valued at $231,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 in the company, valued at $231,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 18,233 shares in the company, valued at approximately $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.