City (NASDAQ:CHCO) CFO David Bumgarner Sells 805 Shares

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 805 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $124.50, for a total transaction of $100,222.50. Following the sale, the chief financial officer directly owned 11,827 shares in the company, valued at approximately $1,472,461.50. The trade was a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

City Trading Up 0.4%

CHCO stock opened at $124.41 on Friday. The company’s 50-day simple moving average is $122.43 and its 200-day simple moving average is $122.55. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. City Holding Company has a 52-week low of $113.21 and a 52-week high of $133.59. The firm has a market cap of $1.76 billion, a P/E ratio of 13.70 and a beta of 0.50.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. As a group, equities analysts forecast that City Holding Company will post 8.99 EPS for the current fiscal year.

City Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were paid a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. City’s dividend payout ratio (DPR) is currently 38.33%.

City declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Hovde Group raised their price target on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $134.25.

Institutional Trading of City

Hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in City in the 4th quarter valued at about $29,000. First Horizon Corp raised its holdings in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Quarry LP acquired a new stake in City in the 3rd quarter valued at about $32,000. Simplex Trading LLC acquired a new stake in City in the 4th quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. raised its holdings in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after acquiring an additional 198 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.