Insider Selling: City (NASDAQ:CHCO) EVP Sells $74,393.60 in Stock

City Holding Company (NASDAQ:CHCO) EVP Jeffrey Legge sold 512 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $145.30, for a total transaction of $74,393.60. Following the completion of the sale, the executive vice president directly owned 7,656 shares in the company, valued at $1,112,416.80. This represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

City Stock Down 0.4%

Shares of City stock opened at $141.49 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50-day moving average of $142.18 and a 200 day moving average of $132.03. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 15.45 and a beta of 0.49. City Holding Company has a 1 year low of $113.21 and a 1 year high of $148.99.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Monday, October 26th. The bank reported $2.43 EPS for the quarter, topping the consensus estimate of $2.36 by $0.07. The business had revenue of $84.04 million for the quarter, compared to analyst estimates of $83.07 million. City had a net margin of 32.31% and a return on equity of 16.34%. As a group, sell-side analysts anticipate that City Holding Company will post 9.37 earnings per share for the current fiscal year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.87. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is 43.67%.

Institutional Trading of City

A number of institutional investors have recently made changes to their positions in CHCO. Nisa Investment Advisors LLC grew its position in City by 18.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank’s stock worth $63,000 after purchasing an additional 72 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in City by 4.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,934 shares of the bank’s stock valued at $389,000 after purchasing an additional 123 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of City by 10.4% in the third quarter. GAMMA Investing LLC now owns 1,321 shares of the bank’s stock worth $184,000 after buying an additional 124 shares during the last quarter. Allworth Financial LP raised its holdings in shares of City by 294.1% in the second quarter. Allworth Financial LP now owns 201 shares of the bank’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of City by 8.9% during the second quarter. HB Wealth Management LLC now owns 2,364 shares of the bank’s stock worth $314,000 after buying an additional 194 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CHCO. Hovde Group raised their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings downgraded City from a “buy (a)” rating to a “buy (a-)” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on City from $145.00 to $147.00 and gave the stock a “hold” rating in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

About City

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.