Insider Selling: City Holding (NASDAQ:CHCO) Director Sells $115,000.00 in Stock

City Holding (NASDAQ:CHCO) Director James L. Rossi sold 1,000 shares of City stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the transaction, the director now directly owns 18,233 shares in the company, valued at approximately $2,096,795. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

City Stock Performance

CHCO traded down $1.02 during trading on Tuesday, hitting $114.66. The stock had a trading volume of 10,143 shares, compared to its average volume of 59,426. The firm has a market capitalization of $1.69 billion, a P/E ratio of 14.55 and a beta of 0.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.80. City Holding has a twelve month low of $86.56 and a twelve month high of $125.54. The company’s 50-day moving average price is $111.26 and its 200 day moving average price is $105.41.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $73.20 million. City had a net margin of 32.12% and a return on equity of 17.42%. On average, equities research analysts forecast that City Holding will post 7.71 EPS for the current fiscal year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Monday, July 15th. City’s payout ratio is 35.97%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $110.00 target price (up from $100.00) on shares of City in a report on Thursday, April 25th. Hovde Group lifted their price objective on shares of City from $110.00 to $113.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Finally, Stephens reduced their target price on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.75.

Hedge Funds Weigh In On City

A number of large investors have recently made changes to their positions in CHCO. Raymond James & Associates acquired a new position in City during the fourth quarter worth about $610,000. Cerity Partners LLC grew its holdings in shares of City by 3.3% in the 4th quarter. Cerity Partners LLC now owns 7,239 shares of the bank’s stock worth $799,000 after acquiring an additional 230 shares during the period. Louisiana State Employees Retirement System purchased a new position in City in the 4th quarter valued at approximately $816,000. New York State Common Retirement Fund raised its holdings in City by 6.4% during the fourth quarter. New York State Common Retirement Fund now owns 6,572 shares of the bank’s stock worth $725,000 after purchasing an additional 396 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in City by 10.6% during the fourth quarter. Russell Investments Group Ltd. now owns 9,809 shares of the bank’s stock worth $1,082,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

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.