Live News • May 16
City Holding Announces Share Repurchase Leadership Appointment and Insider Stock Purchase Director James M. Parsons bought 100 shares of City Holding common stock through his IRA.
Michael T. Quinlan Jr. was appointed president of City National Bank of West Virginia, while Charles "Skip" R. Hageboeck remains CEO.
The board authorized a share repurchase program for up to 1,000,000 common shares, with the stated aim of improving earnings per share.
Insider buying, leadership changes and a sizable buyback authorization together indicate an active period for City Holding’s capital allocation and bank-level management structure.
Investors may want to monitor how the new bank president’s tenure and the pace of repurchases appear in future earnings per share and overall capital levels. Announcement • May 02
City Holding Company Elects B. Scott Raynes as Class II Director to Board of Directors City Holding Company shareholders have elected B. Scott Raynes to its Board of Directors as a Class II director to serve for a term of two-years at its Annual Meeting of Shareholders held on April 29, 2026. Raynes received a Bachelor of Arts degree from West Virginia Institute of Technology, a Master’s Degree in Higher Education and Counseling from Morehead State University, and an MBA with a Healthcare specialization from West Virginia University. Raynes is currently President and CEO of Marshall Health Network, which includes three hospitals and a large physician group affiliated with the Marshall University Joan C. Edwards School of Medicine. Prior to returning to West Virginia, Raynes served as President and CEO of Southeast Georgia Health System in Brunswick/St. Simons Island, Georgia (January 2022–February 2025). He previously served as President of Baptist Hospitals Inc. in Pensacola, Florida (August 2013–December 2022), and as President and CEO of NorthCrest Medical Center/NorthCrest Health System in Springfield, Tennessee (February 2005–August 2013). Earlier in his career, Raynes was President and CEO of Preston Memorial Hospital in Kingwood, West Virginia (2002–2005); Regional Vice President and CEO of HealthSouth Corporation in Huntington, West Virginia (1999–2002); and Chief Operating Officer of Montgomery General Health System in Montgomery, West Virginia (1996–1999). Raynes currently serves as a member of the Board of Directors for the WV Chamber of Commerce, a board member of the Huntington Area Development Corp., and a board member of the Mason County Development Authority. Recent Insider Transactions • Apr 30
President recently sold US$734k worth of stock On the 28th of April, Charles Hageboeck sold around 6k shares on-market at roughly US$125 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Charles has been a net seller over the last 12 months, reducing personal holdings by US$1.2m. Recent Insider Transactions Derivative • Apr 28
Executive VP & CFO notifies of intention to sell stock David Bumgarner intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 27th of April. If the sale is conducted around the recent share price of US$126, it would amount to US$297k. Since June 2025, David's direct individual holding has increased from 13.27k shares to 16.22k. Company insiders have collectively sold US$852k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Apr 24
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$2.20 (up from US$2.06 in 1Q 2025). Revenue: US$78.6m (up 5.5% from 1Q 2025). Net income: US$31.5m (up 4.5% from 1Q 2025). Profit margin: 40% (in line with 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 23
City Holding Company Reports Unaudited Charge Offs for the First Quarter Ended March 31, 2026 City Holding Company reported unaudited charge offs for the first quarter ended March 31, 2026. For the quarter, the company reported net charge-offs of $749,000 compared to $253,000 a year ago. Declared Dividend • Apr 02
Fourth quarter dividend of US$0.87 announced Shareholders will receive a dividend of US$0.87. Ex-date: 15th April 2026 Payment date: 30th April 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (37% payout ratio) and is expected to be well covered in 3 years' time (38% forecast payout ratio). The dividend has increased by an average of 7.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 5.0% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 27
City Holding Company, Annual General Meeting, Apr 29, 2026 City Holding Company, Annual General Meeting, Apr 29, 2026. Reported Earnings • Feb 26
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: US$8.94 (up from US$7.91 in FY 2024). Revenue: US$315.6m (up 8.2% from FY 2024). Net income: US$129.3m (up 12% from FY 2024). Profit margin: 41% (up from 40% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.94% (up from 3.86% in FY 2024). Non-performing loans: 0.31% (down from 0.33% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. New Risk • Jan 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$317k sold). New Risk • Jan 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$317k sold). Reported Earnings • Jan 22
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: US$9.02 (up from US$7.91 in FY 2024). Revenue: US$315.6m (up 8.2% from FY 2024). Net income: US$130.5m (up 13% from FY 2024). Profit margin: 41% (up from 40% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Jan 08
Upcoming dividend of US$0.87 per share Eligible shareholders must have bought the stock before 15 January 2026. Payment date: 30 January 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.2%). Declared Dividend • Dec 19
Third quarter dividend of US$0.87 announced Shareholders will receive a dividend of US$0.87. Ex-date: 15th January 2026 Payment date: 30th January 2026 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (37% payout ratio) and is expected to be well covered in 3 years' time (39% forecast payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 4.0% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 05
City Holding Company Declares Dividend, Payable on January 30, 2026 On November 18, 2025, the Board of Directors of City Holding Company, declared a dividend of $0.87 per common share for shareholders of record as of January 15, 2026 payable on January 30, 2026. New Risk • Dec 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$317k sold). Recent Insider Transactions • Nov 26
President recently sold US$243k worth of stock On the 24th of November, Charles Hageboeck sold around 2k shares on-market at roughly US$121 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Charles' only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Nov 25
President notifies of intention to sell stock Charles Hageboeck intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 24th of November. If the sale is conducted around the recent share price of US$121, it would amount to US$243k. For the year to December 2018, Charles' total compensation was 35% salary and 65% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Charles has owned 56.55k shares directly. Company insiders have collectively sold US$547k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Oct 23
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$2.41 (up from US$2.02 in 3Q 2024). Revenue: US$81.8m (up 9.4% from 3Q 2024). Net income: US$34.9m (up 18% from 3Q 2024). Profit margin: 43% (up from 40% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Announcement • Oct 23
City Holding Company and City National Bank of West Virginia Announce Executive Changes On October 22, 2025, City Holding Company announced that executive officer, John A. DeRito, will retire from his position as Executive Vice President of Commercial Banking with the Company and its bank subsidiary, City National Bank of West Virginia (the “Bank”), effective December 31, 2025. Mr. DeRito, age 75, has served as the Bank’s Executive Vice President of Commercial Banking since joining the Company in June 2004. During John’s 21-year leadership tenure at the Bank, the commercial loan portfolio has grown from $450 million to over $2.2 billion. Beyond the demonstrated growth, John has been instrumental in expanding the Bank’s footprint into new markets and industries and has been an exemplary representative of City in the Charleston and surrounding communities. His disciplined approach to credit and unwavering focus on quality have helped the Bank achieve consistent growth while maintaining exceptionally strong asset quality. Concurrent with Mr. DeRito’s retirement, he will be succeeded by Timothy J. (Tim) Whittaker (age 52), the Bank’s long-time Senior Vice President and Chief Credit Officer and a close partner in leading the Bank’s commercial lending strategy for more than two decades. Mr. Whittaker has served as the Senior Vice President and Chief Credit Officer for both the Company and the Bank since he was first hired in September 1998. Declared Dividend • Sep 28
Second quarter dividend increased to US$0.87 Dividend of US$0.87 is 10% higher than last year. Ex-date: 15th October 2025 Payment date: 31st October 2025 Dividend yield will be 2.6%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Sep 25
City Holding Company Increases Quarterly Dividend on Common Shares, Payable on October 31, 2025 City Holding Company declared a dividend of 87 cents per common share for shareholders of record as of October 15, 2025. The dividend is payable on October 31, 2025. The dividend represents a 10% increase from the 79 cents per share cash dividend paid in the second quarter of 2025. Recent Insider Transactions • Jul 27
Executive VP of Operations recently sold US$328k worth of stock On the 24th of July, Jeffrey Legge sold around 3k shares on-market at roughly US$131 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jeffrey's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Jul 25
Executive VP of Operations notifies of intention to sell stock Jeffrey Legge intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 24th of July. If the sale is conducted around the recent share price of US$131, it would amount to US$328k. Since March 2025, Jeffrey has owned 18.12k shares directly. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Jul 24
Price target increased by 8.0% to US$133 Up from US$123, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$130. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of US$8.67 for next year compared to US$7.91 last year. Reported Earnings • Jul 22
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$2.31 (up from US$1.96 in 2Q 2024). Revenue: US$80.2m (up 9.8% from 2Q 2024). Net income: US$33.4m (up 16% from 2Q 2024). Profit margin: 42% (up from 40% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 08
Upcoming dividend of US$0.79 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 31 July 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of American dividend payers (4.6%). In line with average of industry peers (2.4%). Declared Dividend • Jun 02
First quarter dividend of US$0.79 announced Shareholders will receive a dividend of US$0.79. Ex-date: 15th July 2025 Payment date: 31st July 2025 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • May 29
City Holding Company Declares Dividend, Payable on July 31, 2025 City Holding Company announced on May 28, 2025, the board of directors of the company, declared a dividend of $0.79 per common share for shareholders of record as of July 15, 2025 payable on July 31, 2025. Recent Insider Transactions • May 13
Independent Director recently bought US$269k worth of stock On the 12th of May, James Parsons bought around 2k shares on-market at roughly US$122 per share. This transaction increased James' direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$3.1m more in shares than they bought in the last 12 months. New Risk • May 01
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$229k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$229k sold). Recent Insider Transactions Derivative • Apr 29
Executive VP notifies of intention to sell stock David Bumgarner intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 28th of April. If the sale is conducted around the recent share price of US$116, it would amount to US$216k. Since June 2024, David's direct individual holding has increased from 12.91k shares to 14.76k. Company insiders have collectively sold US$3.1m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Apr 23
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$2.08 (up from US$1.98 in 1Q 2024). Revenue: US$74.6m (up 2.8% from 1Q 2024). Net income: US$30.3m (up 3.7% from 1Q 2024). Profit margin: 41% (in line with 1Q 2024). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Declared Dividend • Mar 31
Fourth quarter dividend of US$0.79 announced Shareholders will receive a dividend of US$0.79. Ex-date: 15th April 2025 Payment date: 30th April 2025 Dividend yield will be 2.6%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (38% payout ratio) and is expected to be well covered in 3 years' time (42% forecast payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend. Announcement • Mar 31
City Holding Company, Annual General Meeting, Apr 30, 2025 City Holding Company, Annual General Meeting, Apr 30, 2025. Location: 2400 s. kanawha street, beckley, wv 25801, United States Reported Earnings • Feb 28
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: US$7.91 (up from US$7.62 in FY 2023). Revenue: US$291.8m (up 1.8% from FY 2023). Net income: US$116.0m (up 2.4% from FY 2023). Profit margin: 40% (in line with FY 2023). Net interest margin (NIM): 3.86% (down from 4.01% in FY 2023). Non-performing loans: 0.33% (up from 0.19% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Jan 23
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: US$7.98 (up from US$7.62 in FY 2023). Revenue: US$291.8m (up 1.8% from FY 2023). Net income: US$117.1m (up 3.3% from FY 2023). Profit margin: 40% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Announcement • Jan 18
City Holding Company Announces Demise of Tracy W. Hylton II, Director Tracy W. Hylton II, a director of City Holding Company, passed away on January 11, 2025 after a long illness. Mr. Hylton served as a director of City Holding Company and its’ banking subsidiary, City National Bank of West Virginia, or their predecessors, since 1993. Mr. Hylton joined the Board of the Bank of Raleigh in 1984, and subsequently the Board of Horizon Bancorp Inc. in 1993. After the merger of Horizon Bancorp with City Holding Company on December 31, 1998, he then joined the City Holding Company Board. During Mr. Hylton’s 31 years of service to the Company and its predecessors, his business acumen and strong business connections in southern West Virginia, particularly in the coal industry positively impacted City’s performance. During his tenure as a director of City Holding Company, the Company recruited a new management team in 2001 after which the Company exhibited a dramatic recovery and exited formal agreements with its regulators. Since that time, City has been recognized as a high-performing bank in a large number of banking publications, including Forbes – which recognized City as the top performing bank in the US in 2024. During his career, Mr. Hylton owned over 30 companies in mining, farming, cattle, land development, automotive, hotels, furniture, sporting goods, and real estate. He was a well-known leader in the West Virginia coal industry for many years, and was instrumental in the creation of The Friends of Coal advocacy organization. Mr. Hylton was also active in a very large number of local civic organizations. Prior to embarking upon his business career, Mr. Hylton grew up in Mullens, West Virginia and studied engineering and business management at Marshall University in Huntington, West Virginia. He also served in the Armored Calvary of the National Guard. His wife Patty, daughters Tracijo and Morgan, and stepson Adam Hylton survive him. Upcoming Dividend • Jan 08
Upcoming dividend of US$0.79 per share Eligible shareholders must have bought the stock before 15 January 2025. Payment date: 31 January 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of American dividend payers (4.5%). In line with average of industry peers (2.6%). Declared Dividend • Nov 27
Third quarter dividend of US$0.79 announced Shareholders will receive a dividend of US$0.79. Ex-date: 15th January 2025 Payment date: 31st January 2025 Dividend yield will be 2.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (38% payout ratio) and is expected to be well covered in 3 years' time (40% forecast payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend. Recent Insider Transactions • Nov 20
President recently sold US$789k worth of stock On the 15th of November, Charles Hageboeck sold around 6k shares on-market at roughly US$130 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Charles has been a net seller over the last 12 months, reducing personal holdings by US$2.6m. Recent Insider Transactions Derivative • Nov 11
Insider notifies of intention to sell stock John DeRito intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 8th of November. If the sale is conducted around the recent share price of US$132, it would amount to US$345k. Since March 2024, John's direct individual holding has decreased from 31.47k shares to 31.37k. Company insiders have collectively sold US$3.7m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 08
Key Executive recently sold US$238k worth of stock On the 6th of November, C. Kayser sold around 2k shares on-market at roughly US$133 per share. This transaction amounted to 6.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was C.'s only on-market trade for the last 12 months. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: US$2.02. Revenue: US$74.8m (up 2.6% from 3Q 2023). Net income: US$29.5m (flat on 3Q 2023). Profit margin: 40% (down from 41% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.2%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Declared Dividend • Sep 30
Second quarter dividend increased to US$0.79 Dividend of US$0.79 is 10% higher than last year. Ex-date: 15th October 2024 Payment date: 31st October 2024 Dividend yield will be 2.5%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 2.8% over the next year. However, it would need to fall by 59% to increase the payout ratio to a potentially unsustainable range. Recent Insider Transactions Derivative • Aug 25
Key Executive notifies of intention to sell stock C. Kayser intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of August. If the sale is conducted around the recent share price of US$121, it would amount to US$215k. Since March 2024, Kayser has owned 25.81k shares directly. Company insiders have collectively sold US$3.4m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Aug 01
Price target increased by 9.2% to US$121 Up from US$111, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$117. Stock is up 20% over the past year. The company is forecast to post earnings per share of US$7.76 for next year compared to US$7.62 last year. Announcement • Aug 01
City Holding Company Appoints James A. Hoyer to Board of Directors City Holding Company has appointed Major General (retired) James A. Hoyer to its Board of Directors. Hoyer’s appointment is effective immediately and he will stand for election by the shareholders at the next annual meeting scheduled for April 2025. This increases the number of directors of the Company from 13 to 14. The Board of Directors expects to recommend Hoyer as a Class II director, whose terms shall expire at the annual meeting of shareholders in 2028. Hoyer received his undergraduate degree from the University of Charleston. He has a master’s degree in Management and Public Administration from the West Virginia Graduate College, a master’s in Strategic Studies from the US Army War College and a Certificate in Identity Management from the Naval Post Graduate School. Hoyer served as The Adjutant General for the State of West Virginia from 2011 until 2021, providing command guidance to the West Virginia Army and Air National Guard of more than 6,500 citizen soldiers and airmen. He also led the state’s Joint Interagency Task Force and response to multiple emergencies and major security events, including the 2016 thousand-year flood and the COVID pandemic. Hoyer currently serves as Vice President for Economic Innovation for West Virginia University. He also serves as a Senior Advisor for the Civil Military Innovation Institute and is a member of the Board of Advisors for Fidelis New Energy LLC. Recent Insider Transactions • Jul 28
President recently sold US$896k worth of stock On the 25th of July, Charles Hageboeck sold around 7k shares on-market at roughly US$124 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Charles has been a net seller over the last 12 months, reducing personal holdings by US$1.8m. Price Target Changed • Jul 28
Price target increased by 7.5% to US$115 Up from US$107, the current price target is an average from 5 analysts. New target price is 6.9% below last closing price of US$123. Stock is up 24% over the past year. The company is forecast to post earnings per share of US$7.77 for next year compared to US$7.62 last year. Reported Earnings • Jul 24
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: US$1.96 (down from US$2.16 in 2Q 2023). Revenue: US$73.0m (down 3.1% from 2Q 2023). Net income: US$28.9m (down 11% from 2Q 2023). Profit margin: 40% (down from 43% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 17% per year. Upcoming Dividend • Jul 08
Upcoming dividend of US$0.71 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of American dividend payers (4.8%). In line with average of industry peers (3.0%). Declared Dividend • Jun 03
First quarter dividend of US$0.71 announced Shareholders will receive a dividend of US$0.71. Ex-date: 15th July 2024 Payment date: 31st July 2024 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 4.2% over the next year. However, it would need to fall by 61% to increase the payout ratio to a potentially unsustainable range. Recent Insider Transactions • May 21
Insider recently sold US$303k worth of stock On the 17th of May, John DeRito sold around 3k shares on-market at roughly US$105 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$899k. Insiders have been net sellers, collectively disposing of US$2.4m more than they bought in the last 12 months. Recent Insider Transactions • May 05
Executive VP recently sold US$263k worth of stock On the 2nd of May, Jeffrey Legge sold around 3k shares on-market at roughly US$105 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$899k. Insiders have been net sellers, collectively disposing of US$2.1m more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 01
Executive VP notifies of intention to sell stock David Bumgarner intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 29th of April. If the sale is conducted around the recent share price of US$105, it would amount to US$210k. Since December 2023, David's direct individual holding has increased from 11.59k shares to 14.41k. Company insiders have collectively sold US$1.9m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Apr 23
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: US$2.00 (up from US$1.63 in 1Q 2023). Revenue: US$72.6m (up 4.8% from 1Q 2023). Net income: US$29.5m (up 22% from 1Q 2023). Profit margin: 41% (up from 35% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.0%. Revenue is forecast to stay flat during the next 2 years compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 04
Fourth quarter dividend of US$0.71 announced Shareholders will receive a dividend of US$0.71. Ex-date: 12th April 2024 Payment date: 30th April 2024 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (36% payout ratio) and is expected to be well covered in 3 years' time (40% forecast payout ratio). The dividend has increased by an average of 6.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 3.3% over the next 2 years. However, it would need to fall by 60% to increase the payout ratio to a potentially unsustainable range. Announcement • Mar 26
City Holding Company, Annual General Meeting, Apr 24, 2024 City Holding Company, Annual General Meeting, Apr 24, 2024, at 14:00 Eastern Daylight. Location: Sam Bowling Conference Center at City National Bank located at 3601 MacCorkle Avenue, SE Charleston West Virginia United States Agenda: To consider Election of Directors. To elect four Class I directors to serve for a term of three years and one Class III director to serve for a term of two years. The names of the nominees are set forth in the accompanying proxy statement; Ratify Independent Registered Public Accounting Firm. To ratify, on an advisory basis, the Audit Committee and the Board of Directors’ appointment of Crowe LLP as the independent registered public accounting firm for City Holding Company for 2024; and to discuss other matters. Recent Insider Transactions • Mar 03
President recently sold US$899k worth of stock On the 29th of February, Charles Hageboeck sold around 9k shares on-market at roughly US$101 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Charles' only on-market trade for the last 12 months. Announcement • Feb 01
City Holding Company Announces Board Changes City Holding Company has appointed James M. Parsons to its Board of Directors to fill a vacancy created by Thomas L. Burnette not standing for re-election at the Company’s 2023 Annual Meeting of Shareholders. Mr. Parsons’ appointment is effective immediately and he will stand for election by the shareholders at the next annual meeting scheduled for April 2024. This increases the number of directors of the Company from 12 to 13. The Board of Directors expects to recommend Mr. Parsons as a Class III director, whose terms shall expire at the annual meeting of shareholders in 2026. Mr. Parsons is a native of Morgantown, West Virginia and currently resides in Lexington, Kentucky. He earned his bachelor’s degree in Business Administration and accounting from West Virginia University. He is a certified public accountant and is a former member of both the Kentucky and American Institutes of CPA’s. Mr. Parsons currently serves as a co-trustee of the D. Ray Ball, Jr. Revocable Trust. From August 2005 to December 31, 2023, he was the Chief Financial Officer of Ball Homes, LLC, a residential development company, headquartered in Lexington, Kentucky with operations in Kentucky and Tennessee. Mr. Parsons also served as a director, and the Audit Committee chair, of Limestone Bancorp (LMST) and Limestone Bank Inc. from September 2015 to April 2023, when it was acquired by Peoples Bancorp (PEBO). Reported Earnings • Jan 25
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$7.62 (up from US$6.81 in FY 2022). Revenue: US$286.6m (up 14% from FY 2022). Net income: US$113.3m (up 12% from FY 2022). Profit margin: 40% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year. Announcement • Jan 25
City Holding Company Reports Unaudited Net Charge Offs for the Fourth Quarter Ended December 31, 2023 City Holding Company reported unaudited net charge offs for the fourth quarter ended December 31, 2023. For the quarter, the company reported Net charge-offs of $83,000 against $403,000 a year ago. Price Target Changed • Jan 10
Price target increased by 7.7% to US$103 Up from US$95.17, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of US$106. Stock is up 15% over the past year. The company is forecast to post earnings per share of US$7.72 for next year compared to US$6.81 last year. Recent Insider Transactions • Nov 21
Executive VP recently sold US$207k worth of stock On the 17th of November, David Bumgarner sold around 2k shares on-market at roughly US$98.54 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. David has been a net seller over the last 12 months, reducing personal holdings by US$235k. Recent Insider Transactions Derivative • Nov 17
Executive VP notifies of intention to sell stock David Bumgarner intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of November. If the sale is conducted around the recent share price of US$97.44, it would amount to US$205k. Since March 2023, David has owned 13.69k shares directly. Company insiders have collectively sold US$1.7m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Nov 17
City Holding Company Declares Dividend, Payable on January 31, 2024 On November 15, 2023, the Board of Directors of City Holding Company declared a dividend of $0.715 per common share for shareholders of record as of January 15, 2024 payable on January 31, 2024. New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: US$0.019 (down from US$1.84 in 3Q 2022). Revenue: US$72.8m (up 9.8% from 3Q 2022). Net income: US$281.0k (down 99% from 3Q 2022). Profit margin: 0.4% (down from 41% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.1%. Revenue is forecast to stay flat during the next 3 years compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 15% per year. Upcoming Dividend • Oct 05
Upcoming dividend of US$0.71 per share at 3.1% yield Eligible shareholders must have bought the stock before 12 October 2023. Payment date: 31 October 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (5.2%). Lower than average of industry peers (4.0%). Announcement • Sep 28
City Holding Company Approves Quarterly Cash Dividend, Payable on October 31, 2023 City Holding Company, on September 27, 2023 declared a dividend of 71.5 cents per common share for shareholders of record as of October 13, 2023. The dividend is payable on October 31, 2023. The dividend represents a 10.0% increase from the 65 cents per share cash dividend paid in the second quarter of 2023. New Risk • Jul 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.5% per year for the foreseeable future. Minor Risk Significant insider selling over the past 3 months (US$252k sold). Reported Earnings • Jul 25
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: US$2.18 (up from US$1.51 in 2Q 2022). Revenue: US$75.4m (up 28% from 2Q 2022). Net income: US$32.7m (up 46% from 2Q 2022). Profit margin: 43% (up from 38% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to stay flat during the next 2 years compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. Upcoming Dividend • Jul 06
Upcoming dividend of US$0.65 per share at 2.9% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.9%). Lower than average of industry peers (3.5%). Recent Insider Transactions • May 19
Executive VP recently sold US$76k worth of stock On the 17th of May, Jeffrey Legge sold around 840 shares on-market at roughly US$90.00 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$697k. Insiders have been net sellers, collectively disposing of US$3.1m more than they bought in the last 12 months. Recent Insider Transactions • May 10
Insider recently sold US$142k worth of stock On the 5th of May, Michael Quinlan sold around 2k shares on-market at roughly US$91.37 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$697k. Insiders have been net sellers, collectively disposing of US$3.0m more than they bought in the last 12 months. Reported Earnings • Apr 27
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: EPS: US$1.63 (up from US$1.41 in 1Q 2022). Revenue: US$69.2m (up 23% from 1Q 2022). Net income: US$24.1m (up 14% from 1Q 2022). Profit margin: 35% (down from 38% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Apr 06
Upcoming dividend of US$0.65 per share at 2.9% yield Eligible shareholders must have bought the stock before 13 April 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (4.9%). Lower than average of industry peers (3.8%). Recent Insider Transactions • Mar 02
President recently sold US$697k worth of stock On the 28th of February, Charles Hageboeck sold around 7k shares on-market at roughly US$98.53 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Charles has been a net seller over the last 12 months, reducing personal holdings by US$2.0m. Reported Earnings • Jan 26
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: US$6.81 (up from US$5.67 in FY 2021). Revenue: US$251.6m (up 10% from FY 2021). Net income: US$101.1m (up 16% from FY 2021). Profit margin: 40% (up from 38% in FY 2021). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.33% (up from 2.89% in FY 2021). Cost-to-income ratio: 48.2% (down from 51.3% in FY 2021). Non-performing loans: 0.15% (down from 0.18% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.4%. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Announcement • Jan 25
City Holding Company Approves Quarterly Cash Dividend, Payable on January 31, 2023 City Holding Company approved a quarterly cash dividend of $0.65 cents per share payable January 31, 2023, to shareholders of record as of January 13, 2022. Upcoming Dividend • Jan 05
Upcoming dividend of US$0.65 per share Eligible shareholders must have bought the stock before 12 January 2023. Payment date: 31 January 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of American dividend payers (4.4%). In line with average of industry peers (3.1%). Recent Insider Transactions • Dec 01
Insider recently sold US$264k worth of stock On the 29th of November, John DeRito sold around 3k shares on-market at roughly US$100 per share. This transaction amounted to 9.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$656k. Insiders have been net sellers, collectively disposing of US$2.4m more than they bought in the last 12 months. Recent Insider Transactions • Nov 22
Insider recently sold US$168k worth of stock On the 18th of November, John DeRito sold around 2k shares on-market at roughly US$99.20 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$656k. Insiders have been net sellers, collectively disposing of US$2.0m more than they bought in the last 12 months.