City (NASDAQ:CHCO) Posts Earnings Results, Beats Estimates By $0.14 EPS

City (NASDAQ:CHCO) issued its quarterly earnings results on Tuesday. The bank reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.14, MarketWatch Earnings reports. City had a net margin of 33.35% and a return on equity of 13.07%.

Shares of CHCO opened at $77.36 on Friday. The firm’s 50-day moving average is $82.29 and its two-hundred day moving average is $71.66. City has a twelve month low of $53.06 and a twelve month high of $88.49. The firm has a market capitalization of $1.22 billion, a P/E ratio of 13.99 and a beta of 0.67.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Thursday, April 15th will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, April 14th. This represents a $2.32 annualized dividend and a yield of 3.00%. City’s payout ratio is currently 42.49%.

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

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

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