City Holding (NASDAQ:CHCO) EVP Sells $170,203.99 in Stock

City Holding (NASDAQ:CHCO) EVP John A. Derito sold 1,243 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the sale, the executive vice president now owns 28,757 shares in the company, valued at $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

City Trading Down 0.6 %

Shares of CHCO stock traded down $0.77 during mid-day trading on Tuesday, reaching $133.19. The company’s stock had a trading volume of 14,137 shares, compared to its average volume of 56,597. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.96 billion, a PE ratio of 17.20 and a beta of 0.46. The company’s 50 day simple moving average is $121.05 and its 200-day simple moving average is $114.18. City Holding has a 12-month low of $95.39 and a 12-month high of $137.28.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.10. City had a net margin of 31.18% and a return on equity of 16.60%. The business had revenue of $98.40 million for the quarter, compared to analyst estimates of $73.90 million. On average, research analysts predict that City Holding will post 7.84 EPS for the current fiscal year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.79 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.37%. City’s dividend payout ratio is currently 40.56%.

Hedge Funds Weigh In On City

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after purchasing an additional 113 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of City in the 3rd quarter worth about $59,000. Bessemer Group Inc. increased its position in shares of City by 90.7% in the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after purchasing an additional 604 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of City in the 3rd quarter worth about $134,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of City in the 3rd quarter worth about $199,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

Analyst Ratings Changes

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

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.