City Holding (NASDAQ:CHCO) CFO Sells $207,032.54 in Stock

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 2,101 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $98.54, for a total transaction of $207,032.54. Following the transaction, the chief financial officer now directly owns 8,784 shares in the company, valued at $865,575.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

City Stock Performance

City stock traded down $0.46 during trading hours on Monday, hitting $98.34. 17,794 shares of the stock traded hands, compared to its average volume of 72,676. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50 day moving average price is $91.78 and its 200-day moving average price is $92.35. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 12.58 and a beta of 0.56. City Holding has a 1 year low of $82.53 and a 1 year high of $102.91.

City (NASDAQ:CHCO) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.07. City had a net margin of 35.38% and a return on equity of 19.88%. The company had revenue of $73.27 million during the quarter, compared to analysts’ expectations of $72.61 million. As a group, equities analysts expect that City Holding will post 8.19 EPS for the current fiscal year.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Monday, January 15th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, January 11th. City’s dividend payout ratio is presently 36.57%.

Institutional Investors Weigh In On City

Large investors have recently bought and sold shares of the company. Barr E S & Co. boosted its holdings in shares of City by 6,212.6% during the 2nd quarter. Barr E S & Co. now owns 253,449 shares of the bank’s stock worth $22,808,000 after purchasing an additional 249,434 shares during the last quarter. Norges Bank purchased a new stake in shares of City in the 4th quarter valued at approximately $11,159,000. BlackRock Inc. grew its stake in shares of City by 4.6% in the 1st quarter. BlackRock Inc. now owns 2,207,372 shares of the bank’s stock valued at $200,606,000 after buying an additional 97,296 shares during the period. State Street Corp grew its stake in shares of City by 7.7% in the 1st quarter. State Street Corp now owns 650,417 shares of the bank’s stock valued at $59,110,000 after buying an additional 46,239 shares during the period. Finally, Morgan Stanley grew its stake in shares of City by 27.2% in the 4th quarter. Morgan Stanley now owns 150,349 shares of the bank’s stock valued at $13,996,000 after buying an additional 32,151 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CHCO. StockNews.com began coverage on shares of City in a report on Thursday, October 5th. They issued a “sell” rating for the company. Piper Sandler raised their price target on City from $96.00 to $97.00 and gave the stock a “neutral” rating in a report on Monday, October 30th.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.