City Holding Co. (NASDAQ:CHCO) released its earnings results on Thursday. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.10. City Holding had a net margin of 26.90% and a return on equity of 11.96%. During the same period in the prior year, the company earned $0.88 earnings per share.
Shares of City Holding (NASDAQ:CHCO) opened at 64.44 on Thursday. The firm has a 50-day moving average of $66.27 and a 200-day moving average of $54.32. The firm has a market cap of $967.05 million, a PE ratio of 19.17 and a beta of 0.83. City Holding has a 52 week low of $40.74 and a 52 week high of $69.09.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, January 11th. City Holding’s dividend payout ratio is currently 51.04%.
In related news, EVP John A. Derito sold 5,500 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $56.60, for a total transaction of $311,300.00. Following the transaction, the executive vice president now owns 25,803 shares in the company, valued at approximately $1,460,449.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles R. Hageboeck sold 4,713 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $61.49, for a total transaction of $289,802.37. Following the transaction, the chief executive officer now owns 75,133 shares in the company, valued at approximately $4,619,928.17. The disclosure for this sale can be found here. Corporate insiders own 4.11% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of City Holding during the third quarter worth approximately $116,000. Trexquant Investment LP acquired a new stake in shares of City Holding during the second quarter worth approximately $225,000. BlackRock Inc. raised its stake in shares of City Holding by 361.9% in the second quarter. BlackRock Inc. now owns 5,316 shares of the company’s stock worth $242,000 after buying an additional 4,165 shares during the period. Stevens Capital Management LP acquired a new stake in shares of City Holding during the second quarter worth approximately $257,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of City Holding by 4.9% in the second quarter. Thrivent Financial for Lutherans now owns 7,260 shares of the company’s stock worth $330,000 after buying an additional 340 shares during the period. Institutional investors own 60.80% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of City Holding from a “buy” rating to a “hold” rating in a research report on Monday, December 26th.
City Holding Company Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). City National provides banking, trust and investment management and other financial solutions through its network of approximately 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.