City Holding (NASDAQ:CHCO - Get Free Report) CAO Jeffrey Dale Legge sold 2,500 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $105.02, for a total value of $262,550.00. Following the transaction, the chief accounting officer now owns 7,194 shares in the company, valued at $755,513.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
City Stock Down 0.3 %
NASDAQ CHCO opened at $104.47 on Friday. City Holding has a 1 year low of $82.53 and a 1 year high of $115.89. The stock has a market capitalization of $1.55 billion, a PE ratio of 13.14 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The business's 50-day moving average is $102.01 and its 200 day moving average is $101.60.
City Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, April 12th. City's payout ratio is 35.97%.
Wall Street Analysts Forecast Growth
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Several research firms have commented on CHCO. Stephens decreased their price target on shares of City from $100.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $110.00 target price (up previously from $100.00) on shares of City in a research report on Thursday, April 25th. Piper Sandler boosted their price target on shares of City from $103.00 to $105.00 and gave the stock a "neutral" rating in a research note on Thursday, February 1st. Finally, Hovde Group raised their price objective on City from $110.00 to $113.00 and gave the company a "market perform" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, City presently has a consensus rating of "Hold" and a consensus target price of $106.75.
Read Our Latest Analysis on CHCO
Institutional Trading of City
Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in City during the 4th quarter valued at approximately $10,953,000. Axxcess Wealth Management LLC lifted its stake in shares of City by 577.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank's stock valued at $11,938,000 after purchasing an additional 92,276 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of City by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank's stock valued at $35,940,000 after purchasing an additional 16,123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in City in the first quarter worth $1,133,000. Finally, McKinley Carter Wealth Services Inc. grew its stake in City by 215.1% in the first quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank's stock worth $1,682,000 after purchasing an additional 11,019 shares during the period. Institutional investors own 72.43% of the company's stock.
City Company Profile
(
Get Free Report)
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.
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