City Holding (NASDAQ:CHCO) CFO Sells $66,720.00 in Stock

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 556 shares of City stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $120.00, for a total value of $66,720.00. Following the completion of the transaction, the chief financial officer now owns 9,395 shares in the company, valued at approximately $1,127,400. This represents a 5.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

City Trading Down 1.2 %

Shares of CHCO stock traded down $1.39 during mid-day trading on Monday, reaching $116.74. 15,327 shares of the stock traded hands, compared to its average volume of 61,340. The stock’s fifty day simple moving average is $122.89 and its two-hundred day simple moving average is $120.34. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 14.80 and a beta of 0.51. City Holding has a 1-year low of $97.50 and a 1-year high of $137.28.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, research analysts anticipate that City Holding will post 7.53 EPS for the current fiscal year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Wednesday, January 15th. City’s dividend payout ratio is currently 40.05%.

Hedge Funds Weigh In On City

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in shares of City by 1.6% in the third quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock worth $1,018,000 after acquiring an additional 137 shares during the period. DAVENPORT & Co LLC lifted its stake in City by 4.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after buying an additional 176 shares during the period. Inspire Investing LLC lifted its stake in City by 6.8% in the third quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock valued at $410,000 after buying an additional 222 shares during the period. The Manufacturers Life Insurance Company lifted its stake in City by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 7,455 shares of the bank’s stock valued at $792,000 after buying an additional 285 shares during the period. Finally, Intech Investment Management LLC lifted its stake in City by 14.8% in the third quarter. Intech Investment Management LLC now owns 2,243 shares of the bank’s stock valued at $263,000 after buying an additional 290 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler cut their price target on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on City from $120.00 to $130.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

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.