City (CHCO) Issues Earnings Results

City (NASDAQ:CHCO) posted its quarterly earnings data on Wednesday. The bank reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08, MarketWatch Earnings reports. The company had revenue of $55.99 million during the quarter, compared to analysts’ expectations of $55.33 million. City had a net margin of 31.15% and a return on equity of 15.26%.

Shares of NASDAQ CHCO opened at $82.56 on Thursday. The stock has a market capitalization of $1.28 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.84 and a beta of 0.75. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.07. City has a 52 week low of $65.32 and a 52 week high of $83.27.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, April 12th. City’s dividend payout ratio (DPR) is 41.09%.

In related news, CEO Charles R. Hageboeck sold 1,593 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $79.50, for a total transaction of $126,643.50. Following the completion of the sale, the chief executive officer now directly owns 57,121 shares in the company, valued at $4,541,119.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles R. Hageboeck sold 4,154 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $79.77, for a total transaction of $331,364.58. Following the sale, the chief executive officer now owns 60,405 shares of the company’s stock, valued at $4,818,506.85. The disclosure for this sale can be found here. Insiders sold 6,565 shares of company stock valued at $522,916 over the last quarter. Company insiders own 3.36% of the company’s stock.

A number of brokerages have recently commented on CHCO. BidaskClub upgraded shares of City from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. Zacks Investment Research cut shares of City from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of City in a research report on Thursday, January 24th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $80.00.

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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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Earnings History for City (NASDAQ:CHCO)

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