City (NASDAQ:CHCO) CFO David Bumgarner Sells 805 Shares

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 805 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $124.50, for a total transaction of $100,222.50. Following the sale, the chief financial officer directly owned 11,827 shares of the company’s stock, valued at approximately $1,472,461.50. This represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

City Stock Performance

CHCO stock traded up $0.15 during midday trading on Thursday, reaching $124.03. 29,433 shares of the company’s stock traded hands, compared to its average volume of 105,811. City Holding Company has a 52-week low of $113.21 and a 52-week high of $133.59. The stock has a market cap of $1.75 billion, a P/E ratio of 13.66 and a beta of 0.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average is $122.31 and its 200 day moving average is $122.50.

City (NASDAQ:CHCO) last announced its 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. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million during the quarter, compared to analysts’ expectations of $79.25 million. As a group, analysts anticipate that City Holding Company will post 8.99 EPS for the current year.

City announced that its Board of Directors has approved a share buyback plan on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 15th. City’s dividend payout ratio is currently 38.33%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CHCO shares. Piper Sandler upped their target price on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Hovde Group upped their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, City presently has a consensus rating of “Hold” and an average price target of $134.25.

Institutional Trading of City

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Amundi increased its stake in shares of City by 37.7% in the first quarter. Amundi now owns 2,794 shares of the bank’s stock worth $334,000 after purchasing an additional 765 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of City by 41.3% in the first quarter. Quantinno Capital Management LP now owns 8,429 shares of the bank’s stock worth $1,008,000 after purchasing an additional 2,465 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of City by 55.0% in the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock worth $7,373,000 after purchasing an additional 21,898 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of City by 40.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 48,766 shares of the bank’s stock worth $5,829,000 after purchasing an additional 13,976 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of City by 24.8% in the first quarter. Sei Investments Co. now owns 6,557 shares of the bank’s stock worth $784,000 after purchasing an additional 1,301 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other 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.