Insider Selling: City (NASDAQ:CHCO) CEO Sells 1,858 Shares of Stock

City Holding Company (NASDAQ:CHCO) CEO Charles Hageboeck sold 1,858 shares of City stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $124.40, for a total value of $231,135.20. Following the transaction, the chief executive officer owned 48,483 shares of the company’s stock, valued at $6,031,285.20. The trade was a 3.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

City Stock Performance

City stock traded down $2.12 during midday trading on Monday, reaching $122.20. 35,094 shares of the company’s stock were exchanged, compared to its average volume of 104,884. City Holding Company has a 52 week low of $113.21 and a 52 week high of $133.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 13.46 and a beta of 0.49. The stock’s 50-day simple moving average is $123.25 and its 200 day simple moving average is $122.76.

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

City declared that its board has approved a share repurchase program on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.87 per share. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. City’s dividend payout ratio (DPR) is presently 38.33%.

Institutional Investors Weigh In On City

Institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP lifted its stake in City by 136.4% during the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after purchasing an additional 71,436 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in City by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after purchasing an additional 29,828 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in City by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after purchasing an additional 22,536 shares during the last quarter. Renaissance Technologies LLC lifted its stake in City by 55.0% during the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock worth $7,373,000 after purchasing an additional 21,898 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in City during the second quarter worth $2,216,000. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CHCO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a report on Wednesday. Hovde Group boosted their price objective on City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $134.25.

About City

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.