Insider Selling: City Holding (NASDAQ:CHCO) EVP Sells 1,773 Shares of Stock

City Holding (NASDAQ:CHCO) EVP Michael T. Quinlan, Jr. sold 1,773 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the sale, the executive vice president now owns 3,400 shares of the company’s stock, valued at approximately $356,116. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

City Price Performance

NASDAQ CHCO traded down $0.70 during trading on Monday, reaching $103.41. The company’s stock had a trading volume of 14,617 shares, compared to its average volume of 60,881. The stock has a market capitalization of $1.54 billion, a PE ratio of 13.05 and a beta of 0.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a fifty day moving average of $101.82 and a 200 day moving average of $101.31. City Holding has a one year low of $82.53 and a one year high of $115.89.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.86 annualized dividend and a dividend yield of 2.77%. City’s dividend payout ratio (DPR) is presently 35.97%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHCO shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $110.00 price target (up previously from $100.00) on shares of City in a research report on Thursday. Stephens dropped their price objective on City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Piper Sandler upped their target price on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st.

Hedge Funds Weigh In On City

Several institutional investors have recently modified their holdings of CHCO. Norges Bank purchased a new stake in City in the 4th quarter worth approximately $10,953,000. Axxcess Wealth Management LLC lifted its stake in shares of City by 577.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank’s stock valued at $11,938,000 after purchasing an additional 92,276 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of City by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock valued at $35,940,000 after purchasing an additional 16,123 shares during the period. McKinley Carter Wealth Services Inc. lifted its stake in shares of City by 215.1% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank’s stock valued at $1,682,000 after purchasing an additional 11,019 shares during the period. Finally, Dupree Financial Group LLC purchased a new position in shares of City in the 4th quarter valued at approximately $1,165,000. 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.