Key Points
- CEO Charles Hageboeck sold 5,855 shares on April 28 at an average price of $125.30 (≈$733,632), reducing his stake by 10.42% to 50,341 shares; the sale was disclosed in an SEC Form 4 filing.
- Company is returning capital to shareholders via a quarterly dividend of $0.87 per share (annualized $3.48, yield ~2.9%, payout ratio 38.3%) and a board-authorized buyback of 1,000,000 shares.
- Recent results were modestly positive: Q1 EPS of $2.20 beat estimates by $0.03, revenue met expectations, and the bank reported healthy margins and ROE, while analysts on average rate the stock a "Hold" with a $134.25 target.
City Holding Company (NASDAQ:CHCO - Get Free Report) EVP Michael Quinlan, Jr. sold 1,210 shares of City stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the sale, the executive vice president directly owned 3,314 shares in the company, valued at $417,862.26. The trade was a 26.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
City Trading Down 3.6%
Shares of CHCO opened at $121.40 on Thursday. The firm's 50-day moving average price is $121.97 and its 200-day moving average price is $122.29. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.37 and a beta of 0.49. The company has a current ratio of 0.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. City Holding Company has a 1-year low of $113.21 and a 1-year high of $133.59.
City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (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 company had revenue of $79.25 million during the quarter, compared to analysts' expectations of $79.25 million. Sell-side analysts anticipate that City Holding Company will post 8.87 EPS for the current year.
City declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 25th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.
City Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $3.48 annualized dividend and a yield of 2.9%. City's payout ratio is 38.33%.
Institutional Trading of City
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 22,536 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of City by 14.3% during the third quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank's stock worth $6,999,000 after acquiring an additional 7,081 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in shares of 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 acquiring an additional 29,828 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of City by 255.3% during the third quarter. SG Americas Securities LLC now owns 8,936 shares of the bank's stock worth $1,107,000 after acquiring an additional 6,421 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of City by 86.2% during the third quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank's stock worth $2,354,000 after acquiring an additional 8,795 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CHCO. Hovde Group boosted their price objective on shares of City from $133.00 to $135.00 and gave the company a "market perform" rating in a report on Tuesday. Piper Sandler boosted their target price on shares of City from $125.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, City presently has an average rating of "Hold" and a consensus target price of $134.25.
Read 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.
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