City (NASDAQ:CHCO) Issues Earnings Results

City (NASDAQ:CHCO) announced its quarterly earnings data on Wednesday. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11), Zacks reports. City had a return on equity of 16.66% and a net margin of 32.33%.

City Stock Down 1.2%

NASDAQ CHCO opened at $121.76 on Wednesday. City has a 1-year low of $102.22 and a 1-year high of $133.59. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 14.00 and a beta of 0.52. The stock’s 50 day moving average is $122.39 and its two-hundred day moving average is $123.34. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19.

City Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.87 per share. The ex-dividend date is Thursday, January 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. City’s dividend payout ratio (DPR) is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CHCO shares. Piper Sandler began coverage on shares of City in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $125.00 price objective for the company. Weiss Ratings reiterated a “buy (b+)” rating on shares of City in a report on Tuesday, December 23rd. Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Zacks Research cut City from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $133.25.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 2,017 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $120.68, for a total value of $243,411.56. Following the sale, the chief executive officer directly owned 50,359 shares in the company, valued at $6,077,324.12. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On City

A number of hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in City by 28.4% in the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock valued at $61,000 after acquiring an additional 110 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of City by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,905 shares of the bank’s stock valued at $1,227,000 after purchasing an additional 186 shares during the last quarter. Bank of America Corp DE boosted its stake in City by 0.3% in the second quarter. Bank of America Corp DE now owns 77,767 shares of the bank’s stock valued at $9,520,000 after buying an additional 198 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after acquiring an additional 198 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of City by 1.5% during the 2nd quarter. California State Teachers Retirement System now owns 13,552 shares of the bank’s stock valued at $1,659,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Company Profile

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.