NASDAQ$CHCO

City Holding Company · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Announced third quarter results with net income of $27.4 million and diluted earnings of $1.83 per share.

City Holding Company reported a strong third quarter, with net income reaching $27.4 million and diluted earnings per share of $1.83. The company's net interest income increased to $48.8 million, driven by higher loan and investment yields. Credit quality remained solid, and the company's capital ratios were well above regulatory requirements.

  • Net income for the quarter ended September 30, 2022, was $27.4 million, with diluted earnings per share of $1.83.
  • Net interest income increased to $48.8 million, driven by higher loan and investment yields.
  • The ratio of nonperforming assets to total loans and other real estate owned decreased modestly to 0.18%.
  • The Board of Directors approved a quarterly cash dividend of $0.65 per share, an 8.3% increase from the previous quarter.

Headline financials

Total Revenue

$67M

Previous: $57.4M+16.7%
EPS (adj)

$1.83

Previous: $1.47+24.5%
Efficiency Ratio

46.3%

No prior period
ROAA

1.8%

No prior period
ROATE

21.8%

No prior period
Leverage Ratio

9.7%

Previous: 8.7%+11.6%
Capital Expenditures

-$1.68M

Previous: -$2.93M+42.8%
Free Cash Flow

$25.7M

Previous: $19.8M+29.8%
Net Income

$27.4M

Previous: $22.7M+20.4%
Operating Income

$58.5M

Previous: $49M+19.6%
Gross Profit

$66.3M

Previous: $56.7M+16.9%
Cash & Equivalents

$298M

Previous: $640M-53.3%
Total Assets

$5.95B

Previous: $5.95B-0.1%
Stock-Based Comp

$754K

Previous: $652K+15.6%

Revenue & EPS history

City Holding · Revenue · Quarterly

$67M

Q3 2022+16.7%vs Q3 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

City Holding · $48M total across 5 segments · Q1 2020

  • Comm/Ag Loans
    $20.5M
  • Residential RE
    $19.9M
  • Taxable Securities
    $5.87M
  • Tax-Exempt Securities
    $895K
  • Installment Loans
    $863K

Forward guidance

This news release contains certain forward-looking statements that are included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements express only management’s beliefs regarding future results or events and are subject to inherent uncertainty, risks, and changes in circumstances, many of which are outside of management’s control.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

+1.2%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+2.5%

Avg return

30 days after

65%

43 / 66 earnings

Positive

+6.7%

Q1 2017

Best reaction

-4.8%

Q2 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.6%+1.2%+0.1%
Q4 2025+1.9%-0.3%+2.6%
Q3 2025+1.5%-0.2%+1.5%
Q2 2025-0.7%-0.8%+1.4%
Q1 2025+0.7%+0.3%+1.3%
Q4 2024-0.1%+0.1%-1.4%
Q3 2024-1.0%+1.1%+13.2%
Q2 2024-1.7%+1.0%-6.0%
Q1 2024+2.5%+0.6%-2.0%
Q4 2023-1.3%+0.5%-4.9%
Q3 2023+1.1%+3.7%+9.9%
Q2 2023+1.8%+2.4%-5.9%
Q1 2023-2.1%+1.4%-1.7%
Q4 2022+2.3%+2.9%+10.5%
Q3 2022+4.3%+5.9%+3.2%
Q2 2022+0.2%+2.7%+9.4%
Q1 2022-0.5%-2.4%+0.9%
Q4 2021-0.8%-2.3%-6.1%
Q3 2021+4.6%+3.7%+3.3%
Q2 2021-0.3%+1.6%+6.8%
Q1 2021+0.0%+1.7%+4.1%
Q4 2020+3.6%-3.4%+8.4%
Q3 2020+4.1%+1.2%+12.9%
Q2 2020+0.5%-0.7%-0.2%
Q1 2020+4.4%-5.1%-5.2%
Q4 2019+0.8%+0.3%-9.0%
Q3 2019-0.2%-0.6%+0.9%
Q2 2019+1.3%+4.7%+2.5%
Q1 2019+1.9%-1.5%-2.6%
Q4 2018+3.0%+3.0%+13.7%
Q3 2018-0.7%-1.0%+5.1%
Q2 2018+2.9%+4.5%+6.1%
Q1 2018+3.5%+4.3%+3.8%
Q4 2017+0.2%+1.1%+0.4%
Q3 2017-1.7%-1.9%-6.6%
Q2 2017+4.7%+0.8%-4.7%
Q1 2017+6.7%+5.4%-3.4%
Q4 2016+3.8%+3.4%+2.5%
Q3 2016+5.8%+5.5%+25.6%
Q2 2016+1.9%+1.0%+8.4%
Q1 2016+2.6%
Q4 2015+1.9%
Q3 2015-2.2%
Q2 2015-4.8%
Q1 2015-1.8%
Q4 2014+2.4%
Q3 2014-1.8%
Q2 2014-0.3%
Q1 2014+3.0%
Q4 2011+0.5%
Q4 2013-0.3%
Q3 2013+1.8%
Q2 2013+2.8%
Q1 2013-0.1%
Q4 2012+3.9%
Q3 2012+1.8%
Q2 2012+0.3%
Q1 2011-0.3%
Q1 2012+2.5%
Q4 2009+0.5%
Q3 2010-4.1%
Q3 2011-4.1%
Q2 2011+5.0%
Q4 2010+5.0%
Q2 2010+5.0%
Q1 2010+4.3%

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