Charles R. Hageboeck Sells 6,065 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the transaction, the chief executive officer now owns 44,974 shares in the company, valued at $5,847,969.22. This trade represents a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

City Stock Performance

NASDAQ CHCO opened at $128.65 on Wednesday. The company has a 50-day simple moving average of $119.89 and a two-hundred day simple moving average of $113.47. City Holding has a 12-month low of $95.39 and a 12-month high of $136.51. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 16.51 and a beta of 0.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20.

City (NASDAQ:CHCO) last released its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The company had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. On average, equities analysts forecast that City Holding will post 7.84 EPS for the current year.

City Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.79 dividend. This is a boost from City’s previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, October 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.46%. City’s dividend payout ratio (DPR) is currently 40.56%.

Analyst Ratings Changes

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 target price on shares of City in a research note on Friday, November 8th.

Institutional Investors Weigh In On City

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHCO. GAMMA Investing LLC increased its position in shares of City by 95.8% in the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after acquiring an additional 113 shares during the period. nVerses Capital LLC bought a new stake in shares of City in the third quarter worth about $59,000. Bessemer Group Inc. increased its holdings in City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after purchasing an additional 604 shares during the period. Point72 DIFC Ltd bought a new position in City during the 3rd quarter valued at approximately $134,000. Finally, SG Americas Securities LLC purchased a new stake in City in the 1st quarter worth approximately $180,000. 72.43% of the stock is currently owned by institutional investors.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.