Key Points
- City Holding EVP Jeffrey Dale Legge sold 1,309 shares on May 26 at an average price of $125, totaling $163,625. After the sale, he still held 7,656 shares, reducing his ownership by 14.6%.
- City’s stock was little changed, opening at $124.52 and trading down 0.6% in the session. The shares have ranged from $113.21 to $133.59 over the past year.
- The bank continues to show solid fundamentals and shareholder returns, with quarterly EPS of $2.20 beating estimates, a $0.87 quarterly dividend, and a newly authorized repurchase program for up to 1 million shares.
City Holding Company (NASDAQ:CHCO - Get Free Report) EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the transaction, the executive vice president owned 7,656 shares of the company's stock, valued at $957,000. This represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
City Trading Down 0.6%
Shares of City stock opened at $124.52 on Thursday. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $133.59. The business's fifty day moving average is $122.96 and its two-hundred day moving average is $122.70. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.76 billion, a PE ratio of 13.71 and a beta of 0.50.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (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 analysts' expectations of $79.25 million. Analysts anticipate that City Holding Company will post 8.99 earnings per share for the current year.
City announced that its board has initiated a stock repurchase program on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
City Announces Dividend
The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.8%. City's dividend payout ratio (DPR) is 38.33%.
Hedge Funds Weigh In On City
Several hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Corp grew its holdings in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank's stock worth $29,000 after purchasing an additional 146 shares during the period. Kestra Advisory Services LLC purchased a new position in City in the fourth quarter valued at approximately $29,000. Quarry LP purchased a new position in City in the third quarter valued at approximately $32,000. Simplex Trading LLC purchased a new position in City in the fourth quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. raised its holdings in City by 113.1% in the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock valued at $46,000 after buying an additional 198 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Hovde Group raised their price objective on City from $133.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, City presently has an average rating of "Hold" and a consensus price target of $134.25.
Read Our Latest Stock Report on CHCO
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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