City (NASDAQ:CHCO) EVP Jeffrey Dale Legge Sells 1,309 Shares

City Holding Company (NASDAQ:CHCO) EVP Jeffrey Dale Legge sold 1,309 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the transaction, the executive vice president directly owned 7,656 shares in the company, valued at $957,000. The trade was a 14.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

City Stock Down 0.3%

Shares of CHCO stock traded down $0.39 on Wednesday, hitting $124.84. The stock had a trading volume of 26,685 shares, compared to its average volume of 105,070. City Holding Company has a one year low of $113.21 and a one year high of $133.59. The business has a 50 day moving average price of $122.83 and a 200 day moving average price of $122.66. The company has a market cap of $1.76 billion, a PE ratio of 13.79 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.03. The company had revenue of $79.25 million for 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%. Research analysts anticipate that City Holding Company will post 8.99 earnings per share for the current fiscal year.

City announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

City Announces Dividend

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

Institutional Investors Weigh In On City

Large investors have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new position in shares of City in the 4th quarter valued at approximately $29,000. First Horizon Corp increased its stake in City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Quarry LP acquired a new position in City during the 3rd quarter valued at approximately $32,000. Simplex Trading LLC purchased a new position in shares of City in the fourth quarter worth $36,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped their price objective on City from $133.00 to $135.00 and gave the stock 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.