City Holding (NASDAQ:CHCO) Director Charles W. Fairchilds Sells 500 Shares

City Holding (NASDAQ:CHCO) Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the sale, the director now owns 1,014 shares of the company’s stock, valued at $122,187. This represents a 33.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

City Stock Performance

Shares of NASDAQ:CHCO opened at $118.90 on Friday. The business’s 50-day simple moving average is $121.55 and its 200 day simple moving average is $120.27. The company has a market cap of $1.75 billion, a P/E ratio of 15.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a one year low of $97.50 and a one year high of $137.28.

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

City Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.66%. City’s dividend payout ratio is presently 40.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHCO. Piper Sandler decreased their target price on City from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Institutional Trading of City

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its holdings in City by 710.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock valued at $56,000 after purchasing an additional 405 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of City in the 3rd quarter valued at approximately $59,000. KBC Group NV boosted its stake in shares of City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock valued at $100,000 after buying an additional 317 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of City during the third quarter worth approximately $134,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after buying an additional 131 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

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.