CHARLESTON, W.Va. - City Holding Company (NASDAQ: NASDAQ:CHCO), a bank holding firm, announced the appointment of Major General (retired) James A. Hoyer to its Board of Directors, effective immediately. Hoyer will be presented for election by shareholders at the annual meeting in April 2025. This appointment expands the Board from 13 to 14 members, with the expectation that Hoyer will serve as a Class II director with a term expiring in 2028.
Hoyer's educational background includes an undergraduate degree from the University of Charleston, 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.
His military service spanned a decade as The Adjutant General for the State of West Virginia, overseeing the West Virginia Army and Air National Guard. During his tenure, he led responses to significant state emergencies, such as the 2016 flood and the COVID pandemic.
In his post-military career, Hoyer has taken roles at West Virginia University as Vice President for Economic Innovation, Senior Advisor for the Civil Military Innovation Institute, and as a board member for Fidelis New Energy LLC.
Dallas Kayser, Chairman of the Board of City Holding Company, expressed confidence in Hoyer's leadership and risk management skills, which are anticipated to enhance the Board's existing expertise.
City Holding Company, with a market capitalization of $6.3 billion, is the parent entity of City National Bank of West Virginia, which operates 97 branches across West Virginia, Kentucky, Virginia, and Ohio.
InvestingPro Insights
As City Holding Company (NASDAQ: CHCO) welcomes Major General (retired) James A. Hoyer to its Board of Directors, the financial metrics provided by InvestingPro offer a comprehensive view of the company's current market position. With a market capitalization of $1.82 billion, CHCO demonstrates a solid financial foundation. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at 15.93, indicating investor sentiment on the value of earnings. Adjusting for the last twelve months as of Q2 2024, the P/E ratio slightly adjusts to 15.18.
InvestingPro Tips highlight CHCO's commendable track record of raising its dividend for 12 consecutive years, showcasing its commitment to shareholder returns. This is further affirmed by the company maintaining dividend payments for 23 consecutive years, a testament to its financial stability and prudent management. For investors seeking insights on dividend performance, the company's dividend yield as of mid-2024 is 2.33%, with a notable 10% dividend growth in the last twelve months. Moreover, CHCO has been trading near its 52-week high, with the price at 98.61% of this peak, reflecting strong market confidence.
For those considering investment opportunities, CHCO's robust return over the last three months, standing at 22.23%, and an impressive return over the last decade, signal long-term growth potential. While the company is trading at a high P/E ratio relative to near-term earnings growth, three analysts have recently revised their earnings upwards for the upcoming period, suggesting potential for future earnings improvement. To explore more about CHCO's performance and future prospects, investors can access additional InvestingPro Tips at https://www.investing.com/pro/CHCO.
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