City (NASDAQ:CHCO) CFO David Bumgarner Sells 1,161 Shares of Stock

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 1,161 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer directly owned 10,666 shares in the company, valued at $1,327,917. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

City Price Performance

CHCO opened at $125.23 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. City Holding Company has a 52-week low of $113.21 and a 52-week high of $133.59. The stock has a market capitalization of $1.77 billion, a PE ratio of 13.79 and a beta of 0.50. The stock’s 50 day moving average price is $122.83 and its 200-day moving average price is $122.66.

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 the consensus estimate of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The firm had revenue of $79.25 million for the quarter, compared to analysts’ expectations of $79.25 million. On average, equities research analysts predict that City Holding Company will post 8.99 EPS for the current year.

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

City Dividend Announcement

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

Institutional Investors Weigh In On City

Several hedge funds have recently made changes to their positions in CHCO. First Horizon Corp boosted its position in shares of City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of City during the fourth quarter valued at approximately $29,000. Quarry LP bought a new stake in shares of City during the third quarter valued at approximately $32,000. Simplex Trading LLC bought a new stake in shares of City during the fourth quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of 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 in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Hovde Group boosted their target price on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $134.25.

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.