City (NASDAQ:CHCO) Share Price Passes Above 50 Day Moving Average – What’s Next?

City Holding Company (NASDAQ:CHCO)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $124.86 and traded as high as $132.00. City shares last traded at $127.97, with a volume of 78,929 shares trading hands.

Wall Street Analyst Weigh In

CHCO has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th. Hovde Group increased their price target 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 research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $134.25.

City Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50-day simple moving average of $124.86 and a 200-day simple moving average of $123.27. The firm has a market capitalization of $1.81 billion, a PE ratio of 14.09 and a beta of 0.49.

City (NASDAQ:CHCO) last issued its quarterly earnings data 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. City had a return on equity of 16.58% and a net margin of 32.72%.The business had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. Equities research analysts expect that City Holding Company will post 8.99 earnings per share for the current fiscal year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 2.7%. City’s dividend payout ratio is 38.33%.

City announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the sale, the chief financial officer directly owned 10,666 shares in the company, valued at approximately $1,327,917. This represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the sale, the executive vice president owned 7,656 shares in the company, valued at approximately $957,000. The trade was a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 455 shares of company stock valued at $57,018 and have sold 12,975 shares valued at $1,622,853. 1.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On City

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in City by 11.9% during the 3rd 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 during the period. Public Sector Pension Investment Board increased its holdings in City by 14.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock worth $6,999,000 after purchasing an additional 7,081 shares during the period. Tudor Investment Corp ET AL increased its holdings in City by 63.2% during the 3rd 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 during the period. Rafferty Asset Management LLC increased its holdings in City by 86.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock worth $2,354,000 after purchasing an additional 8,795 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in City by 4.2% during the 4th quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank’s stock worth $238,000 after purchasing an additional 81 shares during the period. 72.43% of the stock is currently owned by hedge funds and other 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.