City (NASDAQ:CHCO – Get Free Report) issued its quarterly earnings results on Tuesday. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08, Zacks reports. City had a return on equity of 17.62% and a net margin of 32.12%. The business had revenue of $94.90 million during the quarter, compared to the consensus estimate of $73.20 million.
City Stock Performance
CHCO traded up $2.50 during trading on Thursday, reaching $122.43. 81,466 shares of the company were exchanged, compared to its average volume of 61,029. The stock has a market cap of $1.81 billion, a P/E ratio of 15.40 and a beta of 0.48. The firm has a 50 day moving average of $106.42 and a 200 day moving average of $104.05. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. City has a 52 week low of $86.56 and a 52 week high of $125.54.
City Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $0.715 per share. The ex-dividend date is Monday, July 15th. This represents a $2.86 dividend on an annualized basis and a yield of 2.34%. City’s payout ratio is currently 35.97%.
Insider Buying and Selling
Analyst Ratings Changes
CHCO has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $110.00 price target (up from $100.00) on shares of City in a report on Thursday, April 25th. Hovde Group boosted their price target on City from $110.00 to $113.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Finally, Stephens lowered their price target on City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $106.75.
Get Our Latest Stock Report on City
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.
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