City Holding (NASDAQ:CHCO) to Issue Quarterly Dividend of $0.79

City Holding (NASDAQ:CHCO - Get Free Report) declared a quarterly dividend on Friday, May 30th, Wall Street Journal reports. Shareholders of record on Tuesday, July 15th will be given a dividend of 0.79 per share by the bank on Thursday, July 31st. This represents a $3.16 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, July 15th.

City has increased its dividend payment by an average of 8.8% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. City has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect City to earn $7.97 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 39.6%.

City Stock Up 0.9%

NASDAQ CHCO traded up $1.01 during trading on Tuesday, hitting $118.45. 35,700 shares of the company traded hands, compared to its average volume of 59,299. City has a 12 month low of $99.79 and a 12 month high of $137.28. The business has a fifty day simple moving average of $116.65 and a 200 day simple moving average of $119.63. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.72 billion, a P/E ratio of 15.01 and a beta of 0.52.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.22. The company had revenue of $74.55 million for the quarter, compared to the consensus estimate of $73.28 million. City had a return on equity of 16.49% and a net margin of 30.83%. As a group, sell-side analysts predict that City will post 7.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of City stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total value of $162,708.00. Following the completion of the transaction, the executive vice president now owns 2,830 shares in the company, valued at approximately $328,902.60. The trade was a 33.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James M. Parsons bought 2,200 shares of the business's stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $122.38 per share, with a total value of $269,236.00. Following the purchase, the director now directly owns 2,700 shares of the company's stock, valued at $330,426. The trade was a 440.00% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 2,899 shares of company stock valued at $339,590 over the last three months. 1.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new stake in shares of City during the 1st quarter valued at $104,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in City by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank's stock worth $1,014,000 after buying an additional 387 shares in the last quarter. AQR Capital Management LLC lifted its position in City by 34.5% during the 1st quarter. AQR Capital Management LLC now owns 8,977 shares of the bank's stock worth $1,055,000 after buying an additional 2,305 shares in the last quarter. Royal Bank of Canada lifted its position in City by 5.6% during the 1st quarter. Royal Bank of Canada now owns 15,586 shares of the bank's stock worth $1,831,000 after buying an additional 821 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of City by 82.3% in the 1st quarter. Jane Street Group LLC now owns 25,559 shares of the bank's stock valued at $3,002,000 after purchasing an additional 11,537 shares during the period. Institutional investors own 72.43% of the company's stock.

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.