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

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

City Stock Performance

NASDAQ:CHCO traded down $1.47 during trading hours on Friday, reaching $115.27. The stock had a trading volume of 38,475 shares, compared to its average volume of 57,003. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day simple moving average of $116.97 and a 200 day simple moving average of $110.68. City has a 12-month low of $89.95 and a 12-month high of $125.54. The stock has a market cap of $1.70 billion, a P/E ratio of 14.50 and a beta of 0.47.

City Increases Dividend

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

Insiders Place Their Bets

In other City news, Director James L. Rossi sold 1,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 18,233 shares of the company’s stock, valued at $2,096,795. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction on 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 directly owns 2,000 shares in the company, valued at approximately $231,240. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James L. Rossi sold 1,000 shares of City stock in a transaction on Friday, August 16th. The shares were sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the transaction, the director now owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. This trade 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.