City Holding (NASDAQ:CHCO) CFO Sells $66,720.00 in Stock

City Holding (NASDAQ:CHCOGet Free Report) CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total value of $66,720.00. Following the sale, the chief financial officer now directly owns 9,395 shares of the company’s stock, valued at $1,127,400. This represents a 5.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

City Stock Performance

Shares of CHCO traded down $1.39 during midday trading on Monday, reaching $116.74. 15,327 shares of the stock were exchanged, compared to its average volume of 61,340. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.72 billion, a P/E ratio of 14.80 and a beta of 0.51. The stock’s 50 day simple moving average is $122.89 and its 200 day simple moving average is $120.34.

City (NASDAQ:CHCOGet Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, sell-side analysts expect that City Holding will post 7.53 earnings per share for the current year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Wednesday, January 15th. City’s dividend payout ratio is currently 40.05%.

Institutional Investors Weigh In On City

A number of hedge funds and other institutional investors have recently modified their holdings of CHCO. Principal Financial Group Inc. increased its position in shares of City by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank’s stock worth $9,243,000 after purchasing an additional 2,726 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of City in the fourth quarter worth $662,000. Kentucky Trust Co bought a new position in shares of City in the fourth quarter worth $465,000. Polaris Capital Management LLC increased its position in shares of City by 71.6% in the fourth quarter. Polaris Capital Management LLC now owns 13,895 shares of the bank’s stock worth $1,646,000 after purchasing an additional 5,800 shares during the period. Finally, Apollon Wealth Management LLC bought a new position in shares of City in the fourth quarter worth $227,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CHCO. Keefe, Bruyette & Woods raised their price target on City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler cut their price target on City from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, January 24th.

View Our Latest Research Report on CHCO

City Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for City (NASDAQ:CHCO)

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