City Holding (NASDAQ:CHCO) CEO Charles R. Hageboeck Sells 6,065 Shares of Stock

City Holding (NASDAQ:CHCO) CEO Charles R. Hageboeck sold 6,065 shares of City stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the sale, the chief executive officer now owns 44,974 shares of the company’s stock, valued at $5,847,969.22. The trade was a 11.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

City Stock Performance

CHCO stock opened at $128.81 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. City Holding has a 1-year low of $95.39 and a 1-year high of $136.51. The business has a 50-day moving average price of $119.62 and a 200 day moving average price of $113.30. The company has a market capitalization of $1.89 billion, a P/E ratio of 16.54 and a beta of 0.46.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. The firm had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. As a group, equities research analysts forecast that City Holding will post 7.84 EPS for the current fiscal year.

City Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.45%. This is a positive change from City’s previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, October 15th. City’s payout ratio is presently 40.56%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price on shares of City in a research report on Friday, November 8th.

Institutional Investors Weigh In On City

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in City by 95.8% in the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after purchasing an additional 113 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of City during the third quarter valued at $59,000. Bessemer Group Inc. increased its holdings in shares of City by 90.7% in the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after purchasing an additional 604 shares during the period. Point72 DIFC Ltd acquired a new position in City in the 3rd quarter worth approximately $134,000. Finally, SG Americas Securities LLC purchased a new stake in City in the first quarter valued at $180,000. Institutional investors own 72.43% of the company’s stock.

City Company Profile

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.