City (NASDAQ:CHCO) EVP Jeffrey Dale Legge Sells 512 Shares of Stock

City Holding Company (NASDAQ:CHCO) EVP Jeffrey Legge sold 512 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $145.30, for a total transaction of $74,393.60. Following the sale, the executive vice president directly owned 7,656 shares of the company’s stock, valued at $1,112,416.80. The trade was a 6.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

City Price Performance

Shares of NASDAQ:CHCO opened at $142.05 on Friday. The firm’s 50 day moving average price is $142.21 and its 200-day moving average price is $131.93. City Holding Company has a twelve month low of $113.21 and a twelve month high of $148.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $2.00 billion, a PE ratio of 15.51 and a beta of 0.49.

City (NASDAQ:CHCO) last announced its earnings results on Monday, October 26th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.07. City had a net margin of 32.31% and a return on equity of 16.22%. The company had revenue of $84.04 million during the quarter, compared to analyst estimates of $83.07 million. Equities research analysts expect that City Holding Company will post 9.36 EPS for the current year.

City Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.87. City’s payout ratio is presently 43.67%.

Institutional Investors Weigh In On City

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of City in the third quarter worth about $258,000. Maryland State Retirement & Pension System raised its stake in City by 51.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 3,097 shares of the bank’s stock valued at $431,000 after purchasing an additional 1,050 shares during the period. Heritage Family Offices LLP bought a new stake in City during the 3rd quarter valued at approximately $116,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in City during the 3rd quarter valued at approximately $1,862,000. Finally, ProShare Advisors LLC lifted its holdings in City by 3,506.4% in the 3rd quarter. ProShare Advisors LLC now owns 72,597 shares of the bank’s stock worth $10,100,000 after purchasing an additional 70,584 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

CHCO has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on City from $145.00 to $147.00 and gave the stock a “hold” rating in a research note on Tuesday, October 27th. Weiss Ratings downgraded City from a “buy (a)” rating to a “buy (a-)” rating in a research report on Wednesday. Finally, Hovde Group boosted their price target on City from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

City Company Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.