City Holding Co. (CHCO) Sees Unusually-High Trading Volume
Shares of City Holding Co. (NASDAQ:CHCO) saw an uptick in trading volume on Tuesday . 120,483 shares changed hands during trading, an increase of 14% from the previous session’s volume of 105,298 shares.The stock last traded at $46.74 and had previously closed at $45.85.
Separately, Zacks Investment Research upgraded City Holding from a “sell” rating to a “hold” rating in a report on Thursday, May 5th.
The firm has a 50 day moving average price of $47.22 and a 200 day moving average price of $46.11. The firm has a market capitalization of $697.13 million and a PE ratio of 14.84.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings results on Monday, April 25th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.04. The firm had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $41.93 million. During the same quarter in the previous year, the company earned $1.17 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that City Holding Co. will post $3.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Wednesday, July 13th.
In related news, EVP John A. Derito sold 2,500 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $49.03, for a total transaction of $122,575.00. Following the transaction, the executive vice president now owns 25,803 shares in the company, valued at $1,265,121.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 3,401 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $48.86, for a total transaction of $166,172.86. Following the transaction, the chief executive officer now owns 79,731 shares in the company, valued at approximately $3,895,656.66. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of City Holding by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 28,186 shares of the company’s stock worth $1,286,000 after buying an additional 400 shares during the period. Morgan Stanley increased its position in shares of City Holding by 234.6% in the fourth quarter. Morgan Stanley now owns 26,456 shares of the company’s stock worth $1,207,000 after buying an additional 18,549 shares during the period. Finally, Bank of Montreal Can increased its position in shares of City Holding by 1,109.8% in the fourth quarter. Bank of Montreal Can now owns 29,628 shares of the company’s stock worth $1,352,000 after buying an additional 27,179 shares during the period.
City Holding Company is a financial holding company. The Company conducts its principal activities through its wholly owned subsidiary, City National Bank of West Virginia (City National). City National provides banking, trust and investment management and other financial solutions through its network of around 82 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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