Insider Selling: City (NASDAQ:CHCO) CFO Sells $50,250.00 in Stock

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 402 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $125.00, for a total transaction of $50,250.00. Following the transaction, the chief financial officer directly owned 12,632 shares in the company, valued at approximately $1,579,000. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

City Trading Up 0.2%

NASDAQ:CHCO opened at $123.01 on Friday. City Holding Company has a one year low of $113.21 and a one year high of $133.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $1.74 billion, a P/E ratio of 13.55 and a beta of 0.50. The firm has a 50-day simple moving average of $121.97 and a 200-day simple moving average of $122.39.

City (NASDAQ:CHCO) last released its quarterly earnings data 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. The firm had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. Equities analysts anticipate that City Holding Company will post 8.99 EPS for the current fiscal year.

City Dividend Announcement

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

City declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CHCO. Hovde Group lifted their price target on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Piper Sandler lifted their price objective on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.