John A. Derito, Executive Vice President of Commercial Banking at City Holding Co (NASDAQ:CHCO), recently sold 1,243 shares of the company's stock. The shares were sold at an average price of $136.93, amounting to a total transaction value of $170,205. Following this sale, Derito retains ownership of 28,757 shares in the company. This transaction was disclosed in a recent SEC filing, providing insight into the executive's current holdings.
In other recent news, City Holding Company (NASDAQ:CHCO), a financial institution based in West Virginia, has declared a dividend of $0.79 per common share, set to be paid to shareholders on January 31, 2025. This announcement has been made in a recent SEC filing and continues the company's regular practice of returning value to its shareholders. The dividend payment is seen as an indicator of City Holding's financial stability and its commitment to its investors.
In the world of national commercial banks, such as City Holding, dividend announcements are often considered a significant sign of a company's performance and future expectations. The dividend rate of $0.79 per share will be given to all eligible shareholders who are on the company's books by the record date in mid-January. These are some of the recent developments at City Holding Company.
InvestingPro Insights
City Holding Co (NASDAQ:CHCO) has been demonstrating strong financial performance, as reflected in its recent stock price movements and dividend history. According to InvestingPro data, the company's stock is trading near its 52-week high, with a price that is 97.26% of its highest point over the past year. This aligns with the company's impressive 41.25% total return over the last year and a substantial 32.42% return over the past six months.
Investors may find CHCO's dividend policy particularly attractive. An InvestingPro Tip highlights that City Holding Co has raised its dividend for 13 consecutive years, showcasing a commitment to shareholder returns. The company's current dividend yield stands at 2.36%, with a notable dividend growth rate of 10.49% over the last twelve months.
From a valuation perspective, CHCO trades at a P/E ratio of 17, which is relatively modest considering its strong performance. The company's operating income margin of 50.72% indicates efficient operations and profitability.
These metrics provide context to John A. Derito's recent stock sale, suggesting that the transaction occurred during a period of strong performance for City Holding Co. For investors seeking more comprehensive analysis, InvestingPro offers 9 additional tips on CHCO, providing a deeper understanding of the company's financial health and market position.
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