City (NASDAQ:CHCO) CEO Charles Hageboeck Sells 5,855 Shares of Stock

City Holding Company (NASDAQ:CHCO) CEO Charles Hageboeck sold 5,855 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total transaction of $733,631.50. Following the completion of the sale, the chief executive officer owned 50,341 shares of the company’s stock, valued at approximately $6,307,727.30. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

City Price Performance

Shares of NASDAQ CHCO opened at $121.40 on Thursday. The company has a market capitalization of $1.74 billion, a PE ratio of 13.37 and a beta of 0.49. The company has a quick ratio of 0.83, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $121.97 and its 200-day moving average price is $122.29. City Holding Company has a twelve month low of $113.21 and a twelve month high of $133.59.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.03. The company had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. On average, equities analysts anticipate that City Holding Company will post 8.87 EPS for the current year.

City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. City’s dividend payout ratio (DPR) is currently 38.33%.

City announced that its board has approved a share buyback program on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

City News Summary

Here are the key news stories impacting City this week:

• Positive Sentiment: Shareholders elected B. Scott Raynes to the board — a governance update that can be seen as a neutral-to-positive development for oversight and strategy. Read More.
• Positive Sentiment: Company has recent shareholder-friendly actions: a quarterly dividend ($0.87 / share, annualized $3.48) and a previously authorized buyback program (1,000,000 shares) — both support shareholder returns and can underpin valuation for income-focused investors.
• Positive Sentiment: Analyst price-target lift from Hovde (from $133 to $135) and prior Piper Sandler target increases reflect modest analyst confidence in the bank’s fundamentals and leave room for upside relative to current levels.
• Neutral Sentiment: Company announced leadership changes at City National (internal executive moves). The market impact depends on the specifics of the roles and execution risk; the announcement alone is not clearly positive or negative. Read More.
• Negative Sentiment: Insider selling by senior management — several filings show CEO Charles Hageboeck and EVP Michael T. Quinlan Jr. sold shares in late April (CEO sales of 5,855 shares on Apr 28 and 375 shares on Apr 27; EVP sale of 1,210 shares on Apr 28). Large/serial insider sales can signal tax/liquidity needs but also often weigh on investor sentiment short-term. SEC filings: Read More., Read More., Read More.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Hovde Group boosted their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $134.25.

Institutional Trading of City

Hedge funds have recently made changes to their positions in the company. First Horizon Corp grew its stake 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 acquiring an additional 146 shares during the period. Kestra Advisory Services LLC bought a new stake in City in the 4th quarter valued at about $29,000. Quarry LP bought a new stake in City in the 3rd quarter valued at about $32,000. Simplex Trading LLC purchased a new stake in City during the fourth quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. lifted its holdings in City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

About City

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.