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Last $92.32 USD
Change Today +0.58 / 0.63%
Volume 222.3K
As of 8:04 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

city national corp (CYN) Snapshot

Open
$91.73
Previous Close
$91.74
Day High
$92.62
Day Low
$91.73
52 Week High
04/29/15 - $94.34
52 Week Low
10/15/14 - $68.41
Market Cap
5.1B
Average Volume 10 Days
480.3K
EPS TTM
$4.25
Shares Outstanding
55.6M
EX-Date
05/4/15
P/E TM
21.7x
Dividend
$1.40
Dividend Yield
1.47%
Current Stock Chart for CITY NATIONAL CORP (CYN)

city national corp (CYN) Related Businessweek News

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city national corp (CYN) Details

City National Corporation operates as the bank holding company for City National Bank that provides banking, investment, and trust services to small to mid-sized businesses, entrepreneurs, professionals, and affluent individuals. The company operates in Commercial and Private Banking, and Wealth Management segments. It provides various deposit products; and loans and lease products comprising commercial and lease financing, commercial real estate mortgage loans, residential mortgage loans, real estate construction loans, home equity loans and lines of credit, installment loans, and covered loans. The company also offers cash management, international banking, equipment financing, and other products and services. In addition, it provides investment management, advisory, and brokerage services, including portfolio management, securities trading, and asset management services; personal and business trust, and investment services, such as employee benefit trust services, and 401(k) and defined benefit plans; and estate and financial planning and custodial services. Further, the company offers proprietary and nonproprietary products to provide a spectrum of asset classes and investment styles consisting of fixed-income instruments, mutual funds, domestic and international equities, and alternative investments. It operates 75 offices, including 16 full-service regional centers in southern California; the San Francisco Bay area; Nevada; New York City; Nashville, Tennessee; and Atlanta, Georgia. The company was founded in 1953 and is headquartered in Los Angeles, California.

3,578 Employees
Last Reported Date: 05/8/15
Founded in 1953

city national corp (CYN) Top Compensated Officers

Chairman of the Board, Chief Executive Office...
Total Annual Compensation: $980.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $585.0K
Executive Vice President, Director, Member of...
Total Annual Compensation: $621.7K
Executive Vice President, Corporate Secretary...
Total Annual Compensation: $484.7K
Chief Credit Officer of City National Bank an...
Total Annual Compensation: $463.0K
Compensation as of Fiscal Year 2014.

city national corp (CYN) Key Developments

City National Settles Merger-Related Lawsuit

City National Corp. settled a putative class-action lawsuit alleging the company's directors of breaching fiduciary duties in connection with the company's proposed merger with Royal Bank of Canada. The suit filed April 29 alleged that the directors agreed to the proposed merger at an inadequate price and pursuant to an inadequate process that involved self-dealing, and failed to disclose purportedly material information to stockholders in connection with the merger. The settlement on May 15 requires, among other things, City National to make certain supplemental disclosures relating to the merger. Although the defendants deny the allegations made in the suit and believe that no supplemental disclosure is required under applicable laws, in order to avoid the burden and expense of further litigation, City National agreed to make such supplemental disclosures. The stipulation of settlement is subject to confirmatory discovery and customary conditions, including court approval following notice to City National's stockholders. A hearing will be scheduled at which the California state court will consider the fairness, reasonableness and adequacy of the settlement.

City National Corporation, Special/Extraordinary Shareholders Meeting, May 27, 2015

City National Corporation, Special/Extraordinary Shareholders Meeting, May 27, 2015., at 16:00 Pacific Standard Time. Location: City National Plaza, Thirteenth Floor. Agenda: To adopt the agreement and plan of merger, dated as of January 22, 2015, as it may be amended from time to time, by and among the company, Royal Bank of Canada and RBC USA Holdco Corporation; to approve a certain compensation that may be paid or become payable to its named executive officers in connection with the merger; and to consider a proposal for adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the special meeting to adopt the merger agreement.

City National Corporation Declares Quarterly Dividend, Payable on May 20, 2015; Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Announces Impairment Charge and Net Charge-Offs for the First Quarter of 2015

City National Corporation announced that its Board of Directors has maintained and approved a quarterly common stock cash dividend of $0.35 per share, payable on May 20, 2015 to stockholders of record on May 6, 2015. The company reported earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net income attributable to the company of $61.6 million, up 14% from $53.8 million in the year-ago period. Earnings per share were $1.01, compared to $0.89 per share in the first quarter of 2014. Net income available to common shareholders was $57.5 million compared with $49.7 million a year ago. Return on average assets was 0.77% compared with 0.74% a year ago. Return on average common equity was 8.60% compared with 8.07% a year ago. Fully taxable-equivalent net interest income was $224.8 million in the quarter, up 9% from the same period of 2014 but down 3% from the fourth quarter of last year. The year-over-year increase was due primarily to higher income on loans and securities, as well as lower cost of funding due to the payoff of subordinated debt in the third quarter of 2014. Return on average tangible common equity was 11.58% compared with 11.29% a year ago. For the first quarter of 2015, the company reported a $2.7 million net impairment charge to reflect results of the quarterly update of cash-flow projections for the FDIC-covered loans. Net charge-offs in the first quarter of 2015 totaled $0.4 million.

 

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CYN:US $92.32 USD +0.58

CYN Competitors

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Industry Analysis

CYN

Industry Average

Valuation CYN Industry Range
Price/Earnings 21.0x
Price/Sales 3.9x
Price/Book 1.8x
Price/Cash Flow 19.4x
TEV/Sales 2.2x
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