City (NASDAQ:CHCO) Sees Large Volume Increase – Here’s What Happened

Shares of City Holding Company (NASDAQ:CHCO) saw unusually-high trading volume on Thursday . Approximately 95,304 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 106,970 shares.The stock last traded at $120.7350 and had previously closed at $119.40.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CHCO. Weiss Ratings restated a “buy (b+)” rating on shares of City in a report on Tuesday, December 23rd. Piper Sandler boosted their target price on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $134.50.

City Trading Up 1.4%

The company has a fifty day simple moving average of $122.22 and a two-hundred day simple moving average of $122.30. The company has a market capitalization of $1.74 billion, a P/E ratio of 13.54 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.61%. The company had revenue of $60.83 million for the quarter, compared to analyst estimates of $81.38 million. On average, analysts forecast that City Holding Company will post 7.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 1,275 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $125.33, for a total transaction of $159,795.75. Following the transaction, the chief executive officer owned 49,084 shares in the company, valued at $6,151,697.72. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased a total of 553 shares of company stock worth $64,082 in the last 90 days. Company insiders own 1.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of City by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after acquiring an additional 22,536 shares during the last quarter. Public Sector Pension Investment Board raised its stake in City by 14.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock valued at $6,999,000 after purchasing an additional 7,081 shares during the last quarter. SG Americas Securities LLC boosted its holdings in City by 255.3% in the 3rd quarter. SG Americas Securities LLC now owns 8,936 shares of the bank’s stock valued at $1,107,000 after purchasing an additional 6,421 shares during the period. Tudor Investment Corp ET AL grew its position in City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after purchasing an additional 29,828 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in City by 86.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock worth $2,354,000 after purchasing an additional 8,795 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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.