City Holding (NASDAQ:CHCO) CFO Sells $154,696.80 in Stock

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 1,499 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $103.20, for a total transaction of $154,696.80. Following the transaction, the chief financial officer now directly owns 9,951 shares of the company’s stock, valued at $1,026,943.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

City Price Performance

City stock opened at $104.47 on Friday. The firm has a 50-day moving average price of $102.01 and a 200-day moving average price of $101.66. The firm has a market capitalization of $1.55 billion, a PE ratio of 13.14 and a beta of 0.50. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. City Holding has a 12-month low of $82.53 and a 12-month high of $115.89.

City Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $0.715 dividend. The ex-dividend date was Friday, April 12th. This represents a $2.86 annualized dividend and a dividend yield of 2.74%. City’s dividend payout ratio (DPR) is presently 35.97%.

Institutional Investors Weigh In On City

Several institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its holdings in shares of City by 4.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 4,691 shares of the bank’s stock worth $517,000 after acquiring an additional 190 shares during the last quarter. Cerity Partners LLC lifted its holdings in City by 3.3% during the 4th quarter. Cerity Partners LLC now owns 7,239 shares of the bank’s stock valued at $799,000 after buying an additional 230 shares in the last quarter. Federated Hermes Inc. lifted its holdings in City by 28.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after buying an additional 249 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in City by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after buying an additional 301 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in City by 9.1% during the 3rd quarter. Alps Advisors Inc. now owns 3,753 shares of the bank’s stock valued at $339,000 after buying an additional 313 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CHCO. Hovde Group increased their price objective on shares of City from $110.00 to $113.00 and gave the company a “market perform” rating in a research report on Thursday. Stephens lowered their price objective on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $110.00 price objective (up previously from $100.00) on shares of City in a research report on Thursday, April 25th. Finally, Piper Sandler increased their price objective on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, City presently has a consensus rating of “Hold” and an average target price of $106.75.

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.