Insider Selling: City (NASDAQ:CHCO) CFO Sells $100,222.50 in Stock

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 805 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $124.50, for a total transaction of $100,222.50. Following the completion of the sale, the chief financial officer directly owned 11,827 shares in the company, valued at approximately $1,472,461.50. This trade represents a 6.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

City Stock Performance

NASDAQ CHCO opened at $124.64 on Friday. The company’s 50 day moving average is $122.57 and its 200-day moving average is $122.56. City Holding Company has a 12-month low of $113.21 and a 12-month high of $133.59. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.76 billion, a P/E ratio of 13.73 and a beta of 0.50.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, beating the consensus estimate of $2.17 by $0.03. The company had revenue of $79.25 million during the quarter, compared to analysts’ expectations of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. Sell-side analysts predict that City Holding Company will post 8.99 earnings per share for the current year.

City Dividend Announcement

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

City declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 25th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On City

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Corp grew its stake in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in City in the 4th quarter worth approximately $29,000. Quarry LP purchased a new position in City in the 3rd quarter worth approximately $32,000. Simplex Trading LLC purchased a new position in City in the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. grew its stake in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group boosted their price objective on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.