Jeffrey Dale Legge Sells 1,309 Shares of City (NASDAQ:CHCO) Stock

City Holding Company (NASDAQ:CHCO) EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the sale, the executive vice president directly owned 7,656 shares of the company’s stock, valued at approximately $957,000. This represents a 14.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

City Stock Performance

City stock traded down $0.39 during trading hours on Wednesday, hitting $124.84. 26,685 shares of the stock traded hands, compared to its average volume of 105,070. The firm’s 50 day moving average price is $122.83 and its 200-day moving average price is $122.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 13.79 and a beta of 0.50. City Holding Company has a 1 year low of $113.21 and a 1 year high of $133.59.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The firm had revenue of $79.25 million during the quarter, compared to analysts’ expectations of $79.25 million. As a group, equities analysts expect that City Holding Company will post 8.99 EPS for the current fiscal year.

City declared that its board has initiated a share repurchase program on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

City Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, April 15th. City’s dividend payout ratio is 38.33%.

Institutional Trading of City

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in City by 5.6% in the first quarter. Royal Bank of Canada now owns 15,586 shares of the bank’s stock valued at $1,831,000 after buying an additional 821 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of City by 34.5% during the 1st quarter. AQR Capital Management LLC now owns 8,977 shares of the bank’s stock worth $1,055,000 after acquiring an additional 2,305 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of City by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank’s stock worth $1,014,000 after acquiring an additional 387 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of City during the 1st quarter valued at about $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of City by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank’s stock valued at $4,497,000 after purchasing an additional 2,603 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group lifted their price objective on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, City currently has a consensus rating of “Hold” and a consensus target price of $134.25.

About City

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.