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

City Holding Company (NASDAQ:CHCO) saw unusually-high trading volume on Monday . Approximately 71,500 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 111,032 shares.The stock last traded at $132.12 and had previously closed at $134.02.

Wall Street Analyst Weigh In

CHCO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a research report on Wednesday, May 27th. Hovde Group increased their price objective on City from $133.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $134.25.

City Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The company’s fifty day moving average is $125.56 and its two-hundred day moving average is $123.73. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 14.40 and a beta of 0.49.

City (NASDAQ:CHCO) last announced its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The company had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. As a group, research analysts predict that City Holding Company will post 8.99 earnings per share for the current year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 annualized dividend and a yield of 2.7%. City’s dividend payout ratio is presently 38.33%.

City declared that its board has initiated a stock buyback program on Wednesday, March 25th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at City

In other news, CEO Charles R. Hageboeck sold 5,855 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total transaction of $733,631.50. Following the sale, the chief executive officer owned 50,341 shares of the company’s stock, valued at approximately $6,307,727.30. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the completion of the transaction, the executive vice president directly owned 3,314 shares of the company’s stock, valued at approximately $417,862.26. The trade was a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 455 shares of company stock valued at $57,018 and have sold 12,975 shares valued at $1,622,853. 1.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On City

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in City by 5.6% in the 1st 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 during the period. AQR Capital Management LLC increased its position in shares of City by 34.5% during the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of City by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank’s stock valued at $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 in the first quarter valued at $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in City by 7.3% in the first 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 during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Company Profile

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.