City Holding (NASDAQ:CHCO) Plans Quarterly Dividend of $0.58

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City Holding (NASDAQ:CHCO) announced a quarterly dividend on Tuesday, April 6th, Wall Street Journal reports. Shareholders of record on Thursday, April 15th will be paid a dividend of 0.58 per share by the bank on Friday, April 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, April 14th.

City has increased its dividend payment by 30.3% over the last three years and has raised its dividend every year for the last 1 years. City has a dividend payout ratio of 51.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect City to earn $4.05 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 57.3%.

Shares of NASDAQ CHCO opened at $81.70 on Thursday. The business’s 50-day simple moving average is $80.73 and its 200-day simple moving average is $69.90. City has a 52 week low of $53.06 and a 52 week high of $88.49. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 14.77 and a beta of 0.67.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Sunday, January 24th. The bank reported $1.40 EPS for the quarter, beating the consensus estimate of $1.07 by $0.33. City had a return on equity of 13.07% and a net margin of 33.35%. The company had revenue of $55.90 million for the quarter, compared to the consensus estimate of $54.00 million. As a group, analysts predict that City will post 4.98 earnings per share for the current year.

Separately, Zacks Investment Research upgraded shares of City from a “hold” rating to a “strong-buy” rating and set a $82.00 target price on the stock in a research note on Thursday, January 28th. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $69.33.

In other City news, CEO Charles R. Hageboeck sold 2,946 shares of the firm’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $76.07, for a total value of $224,102.22. Following the sale, the chief executive officer now directly owns 48,390 shares in the company, valued at approximately $3,681,027.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David L. Bumgarner sold 1,161 shares of the company’s stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $74.00, for a total transaction of $85,914.00. Following the transaction, the chief financial officer now directly owns 9,695 shares of the company’s stock, valued at approximately $717,430. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,107 shares of company stock valued at $387,716. 3.42% of the stock is owned by corporate insiders.

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.

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Dividend History for City (NASDAQ:CHCO)

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