City (NASDAQ:CHCO) CEO Charles Hageboeck Sells 1,858 Shares of Stock

City Holding Company (NASDAQ:CHCO) CEO Charles Hageboeck sold 1,858 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $124.40, for a total value of $231,135.20. Following the completion of the transaction, the chief executive officer owned 48,483 shares of the company’s stock, valued at approximately $6,031,285.20. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

City Price Performance

CHCO opened at $123.68 on Tuesday. City Holding Company has a 12-month low of $113.21 and a 12-month high of $133.59. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $123.36 and a two-hundred day simple moving average of $122.76. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 13.62 and a beta of 0.50.

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

City declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.87 per share. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is presently 38.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its position in City by 4.2% in the fourth quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank’s stock worth $238,000 after purchasing an additional 81 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of City by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 2,740 shares of the bank’s stock worth $327,000 after buying an additional 81 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of City by 28.4% in the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after buying an additional 110 shares during the period. R Squared Ltd raised its stake in shares of City by 6.6% in the fourth quarter. R Squared Ltd now owns 2,135 shares of the bank’s stock worth $254,000 after buying an additional 132 shares during the period. Finally, First Horizon Corp raised its stake in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after buying an additional 146 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CHCO shares. Weiss Ratings restated a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. Hovde Group increased their price objective 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 equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, City presently has a consensus rating of “Hold” and an average 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.