City (NASDAQ:CHCO) Announces Quarterly Earnings Results

City (NASDAQ:CHCO) released its 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 net margin of 31.18% and a return on equity of 16.60%.

City Stock Performance

NASDAQ:CHCO opened at $115.84 on Friday. City has a 52-week low of $97.50 and a 52-week high of $137.28. 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 has a market cap of $1.70 billion, a price-to-earnings ratio of 14.87 and a beta of 0.51. The firm’s 50-day moving average is $123.97 and its 200-day moving average is $120.05.

City Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP John A. Derito sold 1,243 shares of City 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 of the company’s stock, valued at $3,937,696.01. This trade represents a 4.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director C Dallas Kayser sold 1,784 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total transaction of $237,860.72. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 9,092 shares of company stock worth $1,196,697 over the last 90 days. Corporate insiders own 2.45% of the company’s stock.

Analyst Upgrades and Downgrades

CHCO has been the subject of a number of analyst reports. Piper Sandler decreased their target price on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday. Keefe, Bruyette & Woods raised their price target on 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.