Key Points
- City Holding CFO David Bumgarner sold 1,161 shares on May 22 at an average price of $124.50, for proceeds of about $144,545. After the sale, he still owned 10,666 shares.
- City reported solid quarterly results with EPS of $2.20, edging past estimates of $2.17, while revenue matched consensus at $79.25 million. Analysts expect the company to earn 8.99 EPS for the full fiscal year.
- The bank is supporting shareholders with capital returns through a 1 million-share buyback program and a quarterly dividend of $0.87 per share, equal to a 2.8% annualized yield.
City Holding Company (NASDAQ:CHCO - Get Free Report) CFO David Bumgarner sold 1,161 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the completion of the sale, the chief financial officer directly owned 10,666 shares in the company, valued at $1,327,917. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
City Trading Up 0.5%
City stock opened at $125.23 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $122.83 and its two-hundred day simple moving average is $122.66. City Holding Company has a 12 month low of $113.21 and a 12 month high of $133.59. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.79 and a beta of 0.50.
City (NASDAQ:CHCO - Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The business had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. As a group, equities analysts predict that City Holding Company will post 8.99 earnings per share for the current fiscal year.
City announced that its board has approved a stock buyback program on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.
City Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 15th. City's payout ratio is 38.33%.
Analyst Ratings Changes
Separately, Hovde Group boosted their target price on City from $133.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $134.25.
Get Our Latest Research Report on CHCO
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of CHCO. Two Sigma Investments LP lifted 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 valued at $15,335,000 after purchasing an additional 71,436 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings 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 valued at $9,543,000 after purchasing an additional 29,828 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of City by 11.9% during 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of City by 55.0% during the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank's stock valued at $7,373,000 after purchasing an additional 21,898 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of City during the second quarter valued at $2,216,000. 72.43% of the stock is owned by institutional investors.
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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