City Holding Company (NASDAQ:CHCO - Get Free Report) CEO Charles Hageboeck sold 4,485 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the completion of the transaction, the chief executive officer directly owned 43,998 shares of the company's stock, valued at $6,377,950.08. This trade represents a 9.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
City Stock Up 0.4%
Shares of NASDAQ CHCO opened at $145.11 on Friday. City Holding Company has a 12-month low of $113.21 and a 12-month high of $146.66. The stock's fifty day simple moving average is $132.08 and its two-hundred day simple moving average is $126.07. The stock has a market capitalization of $2.05 billion, a PE ratio of 15.88 and a beta of 0.49. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19.
City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. City had a return on equity of 16.38% and a net margin of 32.58%. As a group, analysts expect that City Holding Company will post 9.29 EPS for the current fiscal year.
City Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, July 15th. City's payout ratio is 38.07%.
Institutional Trading of City
Several hedge funds and other institutional investors have recently made changes to their positions in CHCO. Tudor Investment Corp ET AL increased its position in City by 63.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank's stock valued at $9,543,000 after buying an additional 29,828 shares in the last quarter. Virtu Financial LLC acquired a new stake in City in the fourth quarter worth about $1,353,000. Louisiana State Employees Retirement System purchased a new stake in shares of City during the first quarter worth about $765,000. Geneos Wealth Management Inc. grew its stake in shares of City by 93.1% during the first quarter. Geneos Wealth Management Inc. now owns 676 shares of the bank's stock worth $81,000 after acquiring an additional 326 shares during the last quarter. Finally, Commonwealth Financial Services LLC purchased a new stake in shares of City during the first quarter worth about $373,000. Hedge funds and other institutional investors own 72.43% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on CHCO shares. Hovde Group increased their price target on shares of City from $135.00 to $143.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Weiss Ratings raised shares of City from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, City currently has a consensus rating of "Hold" and a consensus price target of $136.50.
Read Our Latest Research Report on CHCO
About City
(
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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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