Overview

* City Holding ( CHCO ) Q3 net income reaches record $35.2 mln, driven by strong loan growth

* Net interest income for Q3 rises 3.7% to $61.1 mln

* Company raises quarterly dividend by 10% to $0.87 per share

Outlook

* City Holding ( CHCO ) did not provide specific future guidance

Result Drivers

* LOAN GROWTH - Strong loan growth contributed to record net income, with gross loans increasing $73.6 mln

* NET INTEREST INCOME - Increase in net interest income driven by higher loan yields and average loans outstanding

* CREDIT QUALITY - Credit quality remained stable with a recovery of credit losses recorded

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $61.10

Interest mln

Income

Q3 -$500,00

Credit 0

Loss

Provisio

n

Q3 $43.84

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy."

* Wall Street's median 12-month price target for City Holding Co ( CHCO ) is $135.00, about 10.8% above its October 21 closing price of $120.36

* The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)