City (NASDAQ:CHCO) CEO Sells $231,135.20 in Stock

City Holding Company (NASDAQ:CHCO) CEO Charles Hageboeck sold 1,858 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $124.40, for a total transaction of $231,135.20. Following the transaction, the chief executive officer owned 48,483 shares of the company’s stock, valued at $6,031,285.20. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

City Trading Down 1.4%

NASDAQ CHCO opened at $123.56 on Thursday. The company has a market capitalization of $1.74 billion, a PE ratio of 13.61 and a beta of 0.49. The company has a fifty day moving average of $123.62 and a 200 day moving average of $122.82. City Holding Company has a 1 year low of $113.21 and a 1 year high of $133.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (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 net margin of 32.72% and a return on equity of 16.58%. Research analysts forecast 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 given a dividend of $0.87 per share. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. City’s payout ratio is currently 38.33%.

City declared that its board has initiated a share repurchase plan on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CHCO. Weiss Ratings restated a “buy (b)” rating on shares of City in a research report on Wednesday, May 27th. Hovde Group lifted their price objective 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 investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, City has an average rating of “Hold” and an average target price of $134.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHCO. Two Sigma Investments LP increased its holdings in City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock valued at $15,335,000 after buying an additional 71,436 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of City by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after purchasing an additional 29,828 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of City by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after purchasing an additional 22,536 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of City by 55.0% during 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. Finally, Marshall Wace LLP purchased a new stake in shares of City during the second quarter worth about $2,216,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Company Profile

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.