Key Points
- City Holding CEO Charles Hageboeck sold 1,858 shares on May 29 at an average price of $124.40, for proceeds of about $231,135. After the sale, he still owned 48,483 shares, a 3.69% reduction in his position.
- City reported solid quarterly results, with EPS of $2.20 beating estimates by $0.03 while revenue matched expectations at $79.25 million. The bank also posted a 16.58% return on equity and a 32.72% net margin.
- The company reaffirmed shareholder returns by announcing a quarterly dividend of $0.87 per share, payable July 31, and a new stock repurchase program authorizing buybacks of up to 1,000,000 shares. Analysts currently rate the stock a consensus Hold with an average price target of $134.25.
City Holding Company (NASDAQ:CHCO - Get Free Report) CEO Charles Hageboeck sold 1,858 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $124.40, for a total value of $231,135.20. Following the completion of the transaction, the chief executive officer directly owned 48,483 shares in the company, valued at $6,031,285.20. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
City Stock Down 0.5%
NASDAQ CHCO opened at $123.68 on Tuesday. The stock's 50-day moving average price is $123.36 and its 200-day moving average price is $122.76. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. City Holding Company has a 52 week low of $113.21 and a 52 week high of $133.59. The company has a market capitalization of $1.75 billion, a P/E ratio of 13.62 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 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 firm had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. City's dividend payout ratio (DPR) is 38.33%.
City announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.
Hedge Funds Weigh In On City
A number of institutional investors and hedge funds have recently modified their holdings of CHCO. Amundi boosted its holdings in City by 37.7% during the 1st quarter. Amundi now owns 2,794 shares of the bank's stock valued at $334,000 after acquiring an additional 765 shares during the period. Quantinno Capital Management LP boosted its holdings in City by 41.3% during the 1st quarter. Quantinno Capital Management LP now owns 8,429 shares of the bank's stock valued at $1,008,000 after acquiring an additional 2,465 shares during the period. Renaissance Technologies LLC boosted its holdings in City by 55.0% during the 1st quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank's stock valued at $7,373,000 after acquiring an additional 21,898 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in City by 40.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,766 shares of the bank's stock valued at $5,829,000 after acquiring an additional 13,976 shares during the period. Finally, Sei Investments Co. boosted its holdings in City by 24.8% during the 1st quarter. Sei Investments Co. now owns 6,557 shares of the bank's stock valued at $784,000 after acquiring an additional 1,301 shares during the period. Hedge funds and other institutional investors own 72.43% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CHCO. Hovde Group lifted their target price on City from $133.00 to $135.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a "buy (b)" rating on shares of City in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $134.25.
Check Out Our Latest 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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