City (NASDAQ:CHCO) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

City Holding Company (NASDAQ:CHCO) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $121.90 and traded as low as $121.78. City shares last traded at $122.07, with a volume of 69,722 shares.

Analyst Ratings Changes

A number of analysts recently commented on CHCO shares. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. Zacks Research downgraded City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Piper Sandler started coverage on City in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $125.00 target price for the company. Finally, Wall Street Zen downgraded shares of City from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, City currently has an average rating of “Hold” and an average price target of $133.25.

City Trading Down 1.0%

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a fifty day simple moving average of $121.90 and a two-hundred day simple moving average of $123.29. The firm has a market capitalization of $1.76 billion, a P/E ratio of 14.03 and a beta of 0.52.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.26. The firm had revenue of $61.29 million for the quarter, compared to analysts’ expectations of $80.17 million. City had a return on equity of 16.66% and a net margin of 32.33%. On average, equities research analysts anticipate that City Holding Company will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $3.48 annualized dividend and a yield of 2.9%. City’s dividend payout ratio is 40.00%.

Insiders Place Their Bets

In other news, CEO Charles R. Hageboeck sold 2,017 shares of City stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $120.68, for a total value of $243,411.56. Following the completion of the transaction, the chief executive officer owned 50,359 shares in the company, valued at $6,077,324.12. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 416 shares of company stock worth $48,768 in the last three months. 1.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in City in the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of City by 113.1% in the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after acquiring an additional 198 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of City by 463.2% in the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $52,000 after purchasing an additional 352 shares in the last quarter. CWM LLC raised its stake in shares of City by 45.9% during the 3rd quarter. CWM LLC now owns 467 shares of the bank’s stock valued at $58,000 after purchasing an additional 147 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in City by 28.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after purchasing an additional 110 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

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.