City Holding said on March 29, 2023 that its board of directors declared a regular
quarterly dividend of $0.65 per share ($2.60 annualized).
Previously, the company paid $0.65 per share.
Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend.
Shareholders of record as of April 14, 2023
will receive the payment on April 28, 2023.
At the current share price of $90.81 / share,
the stock’s dividend yield is 2.86%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.96%,
the lowest has been 2.25%,
and the highest has been 4.05%.
The standard deviation of yields is 0.36 (n=237).
The current dividend yield is
0.28 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.39.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.14%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 8.11% Upside
As of March 30, 2023,
the average one-year price target for City Holding is $98.18.
The forecasts range from a low of $93.93 to a high of $107.10.
The average price target represents an increase of 8.11% from its latest reported closing price of $90.81.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for City Holding
is $289MM, an increase of 14.85%.
The projected annual non-GAAP EPS
is $7.26.
What is the Fund Sentiment?
There are 467 funds or institutions reporting positions in City Holding.
This is an increase
of
37
owner(s) or 8.60% in the last quarter.
Average portfolio weight of all funds dedicated to CHCO is 0.14%,
an increase
of 10.37%.
Total shares owned by institutions increased
in the last three months by 2.52% to 12,471K shares.
The put/call ratio of CHCO is 0.13, indicating a
bullish
outlook.
What are Large Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF
holds 990K shares
representing 6.42% ownership of the company.
No change in the last quarter.
Westwood Holdings Group
holds 600K shares
representing 3.89% ownership of the company.
In it’s prior filing, the firm reported owning 555K shares, representing
an increase
of 7.61%.
The firm
decreased
its portfolio allocation in CHCO by 15.35% over the last quarter.
Macquarie Group
holds 548K shares
representing 3.55% ownership of the company.
In it’s prior filing, the firm reported owning 625K shares, representing
a decrease
of 14.07%.
The firm
decreased
its portfolio allocation in CHCO by 68.08% over the last quarter.
DCCAX – Delaware Small Cap Core Fund
holds 448K shares
representing 2.90% ownership of the company.
In it’s prior filing, the firm reported owning 506K shares, representing
a decrease
of 12.95%.
The firm
increased
its portfolio allocation in CHCO by 2.06% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 429K shares
representing 2.78% ownership of the company.
In it’s prior filing, the firm reported owning 421K shares, representing
an increase
of 1.87%.
The firm
decreased
its portfolio allocation in CHCO by 1.23% over the last quarter.
City Holding Background Information
(This description is provided by the company.)
City Holding Company is a multi-bank holding company. The Banks provide diversified financial products and services to consumers and local businesses in West Virginia, Ohio, and California. City Holding provides credit, deposit, investment advisory, securities brokerage, insurance, and technology products and services.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
