City Holding (NASDAQ:CHCO) EVP Michael T. Quinlan, Jr. Sells 1,773 Shares

City Holding (NASDAQ:CHCO) EVP Michael T. Quinlan, Jr. sold 1,773 shares of City stock in a transaction on Friday, April 26th. The stock was sold at an average price of $104.74, for a total transaction of $185,704.02. Following the completion of the sale, the executive vice president now owns 3,400 shares of the company’s stock, valued at approximately $356,116. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

City Stock Performance

Shares of CHCO opened at $102.86 on Tuesday. City Holding has a 1 year low of $82.53 and a 1 year high of $115.89. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 12.94 and a beta of 0.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a fifty day moving average of $101.82 and a 200-day moving average of $101.39.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, April 12th. City’s dividend payout ratio is currently 35.97%.

Institutional Investors Weigh In On City

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of City by 1.2% during the first quarter. Principal Financial Group Inc. now owns 83,542 shares of the bank’s stock valued at $8,707,000 after purchasing an additional 999 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its stake in shares of City by 215.1% during the first quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank’s stock valued at $1,682,000 after purchasing an additional 11,019 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of City during the fourth quarter valued at about $599,000. Rafferty Asset Management LLC raised its stake in shares of City by 73.8% during the fourth quarter. Rafferty Asset Management LLC now owns 15,505 shares of the bank’s stock valued at $1,710,000 after purchasing an additional 6,583 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of City by 74.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 4,761 shares of the bank’s stock valued at $525,000 after purchasing an additional 2,032 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CHCO. Piper Sandler lifted their price target on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $110.00 price objective (up previously from $100.00) on shares of City in a report on Thursday, April 25th. Finally, Stephens decreased their price objective on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th.

About City

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.