Key Points
- City CEO Charles Hageboeck sold 375 shares on April 27 at an average price of $125, reducing his stake by 0.66% to 56,196 shares (worth about $7.02M).
- Board authorized a 1,000,000-share repurchase and the company declared a quarterly dividend of $0.87 per share (annualized $3.48, ~2.8% yield; ex-dividend April 15, payable April 30).
- Quarterly results slightly beat expectations with EPS of $2.20 versus a $2.17 consensus, and showed solid profitability (net margin 32.72% and ROE 16.58%).
City Holding Company (NASDAQ:CHCO - Get Free Report) CEO Charles Hageboeck sold 375 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $125.00, for a total transaction of $46,875.00. Following the completion of the transaction, the chief executive officer owned 56,196 shares of the company's stock, valued at $7,024,500. This represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
City Price Performance
Shares of NASDAQ:CHCO opened at $125.92 on Wednesday. The company has a 50-day simple moving average of $122.04 and a 200-day simple moving average of $122.29. City Holding Company has a one year low of $113.21 and a one year high of $133.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.82. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.87 and a beta of 0.49.
City (NASDAQ:CHCO - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $79.25 million. On average, analysts predict that City Holding Company will post 8.87 EPS for the current year.
City declared that its Board of Directors has authorized a stock repurchase program on Wednesday, March 25th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
City Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, April 15th. City's dividend payout ratio is presently 38.33%.
Institutional Trading of City
Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of City by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank's stock valued at $26,272,000 after purchasing an additional 22,536 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of City by 14.3% in the third quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank's stock valued at $6,999,000 after purchasing an additional 7,081 shares during the last quarter. Tudor Investment Corp ET AL grew its position in shares of City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank's stock valued at $9,543,000 after purchasing an additional 29,828 shares during the last quarter. SG Americas Securities LLC grew its position in shares of City by 255.3% in the third quarter. SG Americas Securities LLC now owns 8,936 shares of the bank's stock valued at $1,107,000 after purchasing an additional 6,421 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of City by 86.2% in the third quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank's stock valued at $2,354,000 after purchasing an additional 8,795 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have weighed in on CHCO. Piper Sandler upped their target price on shares of City from $125.00 to $130.00 and gave the stock a "neutral" rating in a research report on Friday, January 23rd. Hovde Group increased their price target on shares of City from $133.00 to $135.00 and gave the company a "market perform" rating in a research report on Tuesday. One 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 has an average rating of "Hold" and a consensus target price of $134.25.
Read Our Latest Analysis 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.
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