Record Q3 EPS of $2.43 at City Holding as Margin Expands
CHCO sits 26% above its 52-week low of $113.21.
Summary
City Holding earned $34.6M in Q3, or a record $2.43 per diluted share, up from $2.35 in Q2. Net interest income climbed 3% quarter-over-quarter to $62.6M as the net interest margin widened to 4.04% from 3.97%, and returns stayed strong at 2.03% ROA and 20.9% ROTCE. Credit looks clean with nonperforming assets near 0.24%. The $1.00 quarterly dividend, a 15% increase, was already set by the board on September 30 and payable October 30 — the new information here is the earnings power behind it. At roughly $142 the stock sits near its 52-week high of $148.99, so the beat-and-raise combination supports the current multiple rather than resetting it.
At the time of this announcement, CHCO was trading at $142.20 on NASDAQ in the Finance sector, with a market capitalization of approximately $2B. The 52-week trading range was $113.21 to $148.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.