City (NASDAQ:CHCO) Share Price Passes Above 50 Day Moving Average – What’s Next?

City Holding Company (NASDAQ:CHCO) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $137.67 and traded as high as $144.35. City shares last traded at $144.00, with a volume of 91,824 shares.

Analysts Set New Price Targets

A number of analysts recently commented on CHCO shares. Weiss Ratings cut City from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 7th. Hovde Group boosted their price target on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $136.50.

City Trading Up 0.6%

The stock has a fifty day moving average of $137.67 and a 200 day moving average of $128.38. The company has a market capitalization of $2.02 billion, a P/E ratio of 15.75 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

City (NASDAQ:CHCO) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. City had a return on equity of 16.34% and a net margin of 32.58%.The business had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. As a group, equities research analysts anticipate that City Holding Company will post 9.29 EPS for the current fiscal year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. City’s payout ratio is presently 38.07%.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 4,485 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total transaction of $650,145.60. Following the sale, the chief executive officer owned 43,998 shares in the company, valued at approximately $6,377,950.08. This trade represents a 9.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total transaction of $163,625.00. Following the transaction, the executive vice president directly owned 7,656 shares in the company, valued at $957,000. This represents a 14.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 444 shares of company stock valued at $59,740 and have sold 7,652 shares valued at $1,044,906. Insiders own 1.75% of the company’s stock.

Institutional Trading of City

Several institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of City during the 2nd quarter valued at $27,000. First Horizon Corp boosted its holdings in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after buying an additional 146 shares during the period. Kestra Advisory Services LLC purchased a new stake in City in the 4th quarter worth $29,000. Quarry LP purchased a new stake in City in the 3rd quarter worth $32,000. Finally, Simplex Trading LLC bought a new stake in City during the fourth quarter valued at about $36,000. 72.43% of the stock is currently owned by institutional investors.

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.