Key Points
- City Holding CFO David Bumgarner sold 805 shares on May 20 at an average price of $124.50, totaling $100,222.50. After the sale, he still held 11,827 shares valued at about $1.47 million.
- City reported solid quarterly results, with EPS of $2.20, edging past analyst expectations by $0.03. Revenue matched estimates at $79.25 million, and the company posted a 32.72% net margin.
- The bank remains active on capital returns and buybacks, recently paying a $0.87 quarterly dividend and authorizing a repurchase program for up to 1 million shares. The stock was also up 0.4% in Friday trading and analysts currently rate it a consensus “Hold.”
City Holding Company (NASDAQ:CHCO - Get Free Report) CFO David Bumgarner sold 805 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $124.50, for a total transaction of $100,222.50. Following the sale, the chief financial officer owned 11,827 shares of the company's stock, valued at $1,472,461.50. This represents a 6.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
City Stock Up 0.4%
Shares of NASDAQ CHCO opened at $124.41 on Friday. The company has a 50 day simple moving average of $122.43 and a 200-day simple moving average of $122.55. The company has a market capitalization of $1.76 billion, a P/E ratio of 13.70 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. 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 announced its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.17 by $0.03. The business had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. On average, equities research analysts predict that City Holding Company will post 8.99 earnings per share for the current year.
City Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.87 per share. The ex-dividend date was Wednesday, April 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. City's dividend payout ratio (DPR) is currently 38.33%.
City announced that its Board of Directors has initiated a share buyback program on Wednesday, March 25th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on CHCO. Piper Sandler raised their price target on shares of City from $125.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, January 23rd. Hovde Group increased their price objective on shares of City from $133.00 to $135.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, City currently has a consensus rating of "Hold" and an average target price of $134.25.
Check Out Our Latest Research Report on City
Hedge Funds Weigh In On City
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHCO. First Horizon Corp boosted its position in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after buying an additional 146 shares during the period. Kestra Advisory Services LLC purchased a new position in City in the 4th quarter valued at approximately $29,000. Quarry LP purchased a new position in City in the 3rd quarter valued at approximately $32,000. Simplex Trading LLC purchased a new stake in shares of City during the 4th quarter worth $36,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock worth $46,000 after purchasing an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.
City Company Profile
(
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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