Insider Selling: City Holding (NASDAQ:CHCO) CAO Sells $262,550.00 in Stock

City Holding (NASDAQ:CHCO) CAO Jeffrey Dale Legge sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.02, for a total transaction of $262,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,194 shares of the company’s stock, valued at approximately $755,513.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

City Stock Down 0.3 %

Shares of NASDAQ CHCO opened at $104.47 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22. City Holding has a 12 month low of $82.53 and a 12 month high of $115.89. The firm has a market capitalization of $1.55 billion, a PE ratio of 13.14 and a beta of 0.50. The firm has a fifty day simple moving average of $102.01 and a two-hundred day simple moving average of $101.74.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a $0.715 dividend. The ex-dividend date was Friday, April 12th. This represents a $2.86 annualized dividend and a yield of 2.74%. City’s dividend payout ratio (DPR) is presently 35.97%.

Wall Street Analysts Forecast Growth

CHCO has been the subject of a number of research reports. Piper Sandler upped their price objective on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Hovde Group upped their price objective on shares of City from $110.00 to $113.00 and gave the company a “market perform” rating in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $110.00 price objective (up previously from $100.00) on shares of City in a research note on Thursday, April 25th. Finally, Stephens lowered their price target on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHCO. SG Americas Securities LLC bought a new position in shares of City in the 3rd quarter worth about $806,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of City by 28.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,575 shares of the bank’s stock worth $323,000 after acquiring an additional 789 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of City by 2.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock worth $985,000 after acquiring an additional 301 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of City by 21.4% in the 3rd quarter. Victory Capital Management Inc. now owns 9,056 shares of the bank’s stock worth $818,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of City in the 3rd quarter worth about $407,000. 72.43% of the stock is currently owned by institutional investors.

About City

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.