City Holding (NASDAQ:CHCO) CFO David L. Bumgarner Sells 556 Shares

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 556 shares of City stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total value of $66,720.00. Following the completion of the sale, the chief financial officer now directly owns 9,395 shares of the company’s stock, valued at approximately $1,127,400. This represents a 5.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

City Stock Performance

NASDAQ CHCO opened at $116.65 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. City Holding has a 1-year low of $97.50 and a 1-year high of $137.28. The firm has a market capitalization of $1.71 billion, a P/E ratio of 14.78 and a beta of 0.51. The business’s 50-day simple moving average is $122.54 and its 200-day simple moving average is $120.31.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. Equities analysts predict that City Holding will post 7.53 EPS for the current year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, January 15th. City’s dividend payout ratio (DPR) is presently 40.05%.

Institutional Investors Weigh In On City

Several institutional investors and hedge funds have recently modified their holdings of CHCO. Barclays PLC raised its holdings in shares of City by 125.3% during the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock valued at $3,385,000 after buying an additional 16,044 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of City by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock valued at $62,044,000 after purchasing an additional 15,910 shares during the period. Nicholson Wealth Management Group LLC acquired a new position in shares of City during the third quarter worth $1,449,000. Jane Street Group LLC boosted its stake in shares of City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock valued at $2,937,000 after purchasing an additional 9,999 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in City by 137.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock valued at $1,158,000 after purchasing an additional 6,312 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

CHCO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on City from $120.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler dropped their price target on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, January 24th.

City Company Profile

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.