City Holding Company (NASDAQ:CHCO) Raises Dividend to $1.00 Per Share

City Holding Company (NASDAQ:CHCO) declared a quarterly dividend on Wednesday, September 30th. Stockholders of record on Thursday, October 15th will be paid a dividend of $1.00 per share by the bank on Friday, October 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, October 15th. This is a 14.9% increase from City’s previous quarterly dividend of $0.87.

City has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. City has a dividend payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect City to earn $9.73 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 35.8%.

City Trading Down 0.5%

Shares of CHCO opened at $139.12 on Thursday. The firm’s 50-day moving average is $143.76 and its two-hundred day moving average is $132.40. The firm has a market capitalization of $1.95 billion, a P/E ratio of 15.22 and a beta of 0.48. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. City has a twelve month low of $113.21 and a twelve month high of $148.99.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. City had a return on equity of 16.34% and a net margin of 32.58%.The company had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. On average, research analysts predict that City will post 9.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Hovde Group boosted their price target on City from $135.00 to $143.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings downgraded City from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, September 18th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $136.50.

City Company Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank of West Virginia, the company provides banking and financial services to consumers, businesses, and public-sector organizations.

City National Bank offers checking and savings accounts, consumer and commercial loans, residential mortgage lending, online and mobile banking, treasury management, and other deposit and credit products.