City (NASDAQ:CHCO - Get Free Report) posted its earnings results on Thursday. The bank reported $2.20 EPS for the quarter, topping the consensus estimate of $2.17 by $0.03, Zacks reports. The company had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.60%.
City Price Performance
CHCO opened at $124.84 on Friday. City has a 1 year low of $113.21 and a 1 year high of $133.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 13.75 and a beta of 0.49. The firm's fifty day moving average price is $122.09 and its two-hundred day moving average price is $122.22.
City Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.87 per share. The ex-dividend date is Wednesday, April 15th. This represents a $3.48 annualized dividend and a yield of 2.8%. City's dividend payout ratio (DPR) is 38.93%.
City declared that its board has initiated a share buyback program on Wednesday, March 25th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Analysts Set New Price Targets
Separately, Piper Sandler raised their price target on shares of City from $125.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, City currently has an average rating of "Hold" and a consensus price target of $134.50.
View Our Latest Stock Report on City
Insider Activity at City
In other news, CEO Charles R. Hageboeck sold 1,275 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $125.33, for a total value of $159,795.75. Following the completion of the sale, the chief executive officer owned 49,084 shares in the company, valued at $6,151,697.72. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought a total of 908 shares of company stock valued at $108,939 in the last three months. Corporate insiders own 1.75% of the company's stock.
Institutional Investors Weigh In On City
Institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in City in the 4th quarter valued at about $202,000. XTX Topco Ltd purchased a new position in shares of City in the 4th quarter worth approximately $712,000. Zacks Investment Management grew its holdings in shares of City by 3.6% in the fourth quarter. Zacks Investment Management now owns 24,584 shares of the bank's stock valued at $2,930,000 after acquiring an additional 844 shares in the last quarter. Numerai GP LLC bought a new position in shares of City in the fourth quarter valued at approximately $754,000. Finally, Inspire Investing LLC increased its position in shares of City by 5.0% during the fourth quarter. Inspire Investing LLC now owns 3,843 shares of the bank's stock valued at $458,000 after acquiring an additional 182 shares during the last quarter. 72.43% of the stock is owned by institutional investors.
About City
(
Get Free Report)
City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.
The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.
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