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

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

City Stock Performance

NASDAQ:CHCO traded up $0.48 during mid-day trading on Thursday, hitting $123.44. 19,737 shares of the stock were exchanged, compared to its average volume of 108,050. The firm’s 50-day simple moving average is $121.94 and its 200 day simple moving average is $122.37. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.60 and a beta of 0.50. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week 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 0.82.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.03. The firm had revenue of $79.25 million for the quarter, compared to analysts’ expectations of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. As a group, equities analysts anticipate that City Holding Company will post 8.99 EPS for the current fiscal year.

City declared that its Board of Directors has initiated a share buyback program on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

City Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on CHCO shares. Piper Sandler raised their price objective on City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Hovde Group upped their target price on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, City has a consensus rating of “Hold” and an average price target of $134.25.

Institutional Investors Weigh In On City

Large investors have recently modified their holdings of the business. First Horizon Corp raised its holdings in shares of City by 146.0% during 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 bought a new position in shares of City in the fourth quarter worth about $29,000. Quarry LP acquired a new stake in shares of City in the 3rd quarter valued at approximately $32,000. Simplex Trading LLC bought a new stake in shares of City during the 4th quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. increased its position in City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

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.