David Bumgarner Sells 805 Shares of City (NASDAQ:CHCO) Stock

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 805 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $124.50, for a total value of $100,222.50. Following the transaction, the chief financial officer directly owned 11,827 shares in the company, valued at approximately $1,472,461.50. This represents a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

City Stock Performance

NASDAQ CHCO opened at $124.64 on Friday. 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 Holding Company has a 52-week low of $113.21 and a 52-week high of $133.59. The business’s 50-day moving average price is $122.57 and its 200 day moving average price is $122.56. The firm has a market cap of $1.76 billion, a P/E ratio of 13.73 and a beta of 0.50.

City (NASDAQ:CHCO) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $79.25 million. On average, equities research analysts expect that City Holding Company will post 8.99 earnings per share for the current year.

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

City Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is currently 38.33%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On City

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Corp boosted its stake 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 acquiring an additional 146 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of City during the 4th quarter worth approximately $29,000. Quarry LP purchased a new stake in shares of City during the 3rd quarter worth approximately $32,000. Simplex Trading LLC purchased a new stake in shares of City during the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of 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 acquiring an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Company Profile

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.