This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Liquid Bank Stocks With Highest Dividend Yields

8. City Holding Company

Shares of City Holding Company (CHCO) of Charleston, W.V., closed at $30.93 Friday, with a flat return over the previous year. Based on a quarterly payout of 34 cents, the shares have a dividend yield of 4.40%.

City Holding Company was the highest-yielding bank stock included in our previous list of 10 Bank Dividends with Room to Rise.

During the first quarter, the company repurchased 270,745 common shares at a weighted average price of $34.62, and said that as of March 31, it was authorized to buy back another 294,000 shares.

The company had $2.7 billion in total assets as of March 31, with 68 offices in West Virginia, Kentucky, and Ohio.

First-quarter net income was $9.6 million, or 62 cents a share, increasing from $9.3 million, or 58 cents a share, a year earlier. For both periods, the provision for loan losses was $1.1 million.

Service charge income declined 11% year-over-year to $9.1 million during the first quarter, showing the effects of the Electronic Funds Transfer Act and Federal Reserve Board Regulation E, with the new "opt-in rules" for expensive overdraft protection on ATM and debit transactions and the "implementation of an enhanced customer service providing 'real-time' processing of electronic transactions," combining to reduce checking account service fees.

Despite the fee revenue decline, City Holding Company's first-quarter return on assets of 1.44% was the highest among this group of 10 banks. The company's dividend payout ratio has ranged between 50% and 59% over the past five quarters.

Following the company's first-quarter earnings announcement, Kenneth James of Sterne Agee reiterated his neutral rating on the shares, saying they were likely to remain bound within a range of $30 to $35. The analyst lowered his 2011 earnings estimate by seven cents to $2.44 a share, and his 2012 estimate by 12 cents to $2.64 a share.

The analyst consensus is for City Holding Company to earn $2.48 a share for 2011. The shares trade for 12 times the consensus 2012 earnings estimate of $2.65 a share.

All nine analysts covering City Holding Company have neutral ratings on the shares.
4 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
FNB $14.32 0.00%
FNFG $9.44 0.00%
PBCT $16.21 0.00%
TRST $7.03 0.00%
UBSI $40.23 0.00%

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.11 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs