City Holding (CHCO) to Issue $0.53 Quarterly Dividend

City Holding (NASDAQ:CHCO) declared a quarterly dividend on Wednesday, December 19th, Zacks reports. Stockholders of record on Tuesday, January 15th will be given a dividend of 0.53 per share by the bank on Thursday, January 31st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, January 14th.

City has increased its dividend by an average of 15.5% annually over the last three years and has raised its dividend every year for the last 7 years. City has a dividend payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect City to earn $4.65 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 45.6%.

Shares of CHCO stock traded down $0.35 on Wednesday, reaching $69.39. The company had a trading volume of 6,704 shares, compared to its average volume of 65,520. The stock has a market capitalization of $1.06 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. City has a one year low of $64.32 and a one year high of $83.27.

City (NASDAQ:CHCO) last posted its earnings results on Monday, October 22nd. The bank reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. The firm had revenue of $51.31 million during the quarter, compared to analysts’ expectations of $49.58 million. City had a net margin of 31.58% and a return on equity of 15.11%. As a group, equities analysts predict that City will post 5.04 EPS for the current fiscal year.

CHCO has been the subject of a number of research reports. BidaskClub upgraded shares of City from a “sell” rating to a “hold” rating in a report on Saturday, October 6th. ValuEngine lowered shares of City from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Zacks Investment Research lowered shares of City from a “buy” rating to a “hold” rating in a report on Monday, November 26th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of City in a report on Tuesday, October 23rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $77.00.

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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 accepts various deposit products, such as 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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