Key Points
- City CEO Charles Hageboeck sold 1,275 shares on Feb. 20 at an average of $125.33 for total proceeds of $159,795.75, trimming his stake by 2.53% to 49,084 shares valued at about $6.15M.
- Recent quarter missed estimates: City reported EPS of $2.18 versus $2.29 expected and revenue of $60.83M versus $81.38M, although ROE was 16.61% and net margin 32.56%.
- Stock and analyst backdrop: CHCO opened at $121.49 with 50-/200-day moving averages near $123.8/$123.3, a $1.75B market cap, and a consensus "Hold" rating with an average target of $134.50.
City Holding Company (NASDAQ:CHCO - Get Free Report) CEO Charles Hageboeck sold 1,275 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $125.33, for a total transaction of $159,795.75. Following the transaction, the chief executive officer owned 49,084 shares of the company's stock, valued at approximately $6,151,697.72. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
City Stock Performance
NASDAQ CHCO opened at $121.49 on Tuesday. The company's fifty day moving average is $123.83 and its two-hundred day moving average is $123.33. City Holding Company has a 52-week low of $102.22 and a 52-week high of $133.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 13.59 and a beta of 0.52.
City (NASDAQ:CHCO - Get Free Report) last released its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.11). City had a return on equity of 16.61% and a net margin of 32.56%.The firm had revenue of $60.83 million for the quarter, compared to analyst estimates of $81.38 million. Equities research analysts forecast that City Holding Company will post 7.58 EPS for the current year.
Institutional Investors Weigh In On City
Several institutional investors and hedge funds have recently made changes to their positions in CHCO. State Street Corp increased its position in shares of City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank's stock worth $78,247,000 after purchasing an additional 6,371 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in City by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank's stock valued at $70,740,000 after buying an additional 6,552 shares in the last quarter. JPMorgan Chase & Co. grew its stake in City by 0.6% during the fourth quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank's stock worth $25,443,000 after buying an additional 1,354 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of 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 buying an additional 71,436 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of City by 19.6% during the third quarter. Qube Research & Technologies Ltd now owns 94,830 shares of the bank's stock worth $11,747,000 after buying an additional 15,546 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.
Analyst Ratings Changes
CHCO has been the subject of a number of recent research reports. Weiss Ratings restated a "buy (b+)" rating on shares of City in a research note on Tuesday, December 23rd. Wall Street Zen lowered shares of City from a "hold" rating to a "sell" rating in a report on Sunday, November 16th. Finally, Piper Sandler raised their price objective on shares of City from $125.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $134.50.
Get Our Latest Research Report on CHCO
About City
(
Get Free Report)
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.
Further Reading
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