David Bumgarner Sells 1,161 Shares of City (NASDAQ:CHCO) Stock

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 1,161 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the transaction, the chief financial officer owned 10,666 shares of the company’s stock, valued at $1,327,917. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

City Price Performance

Shares of NASDAQ CHCO traded up $0.17 during trading hours on Tuesday, hitting $124.81. 55,162 shares of the stock were exchanged, compared to its average volume of 105,318. City Holding Company has a 1-year low of $113.21 and a 1-year high of $133.59. The company has a market cap of $1.76 billion, a PE ratio of 13.75 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day simple moving average is $122.70 and its two-hundred day simple moving average is $122.63.

City (NASDAQ:CHCO) last released its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping 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 analysts’ expectations of $79.25 million. On average, sell-side analysts predict that City Holding Company will post 8.99 EPS for the current year.

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 given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, April 15th. City’s dividend payout ratio is currently 38.33%.

City announced that its board has authorized a stock repurchase plan on Wednesday, March 25th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On City

Several large investors have recently modified their holdings of CHCO. Two Sigma Investments LP increased its position in shares of City by 136.4% during the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after buying an additional 71,436 shares during the period. Tudor Investment Corp ET AL increased its position in shares of City by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after buying an additional 29,828 shares during the period. JPMorgan Chase & Co. increased its position in shares of City by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after buying an additional 22,536 shares during the period. Renaissance Technologies LLC increased its position in shares of City by 55.0% during the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock worth $7,373,000 after buying an additional 21,898 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of City during the second quarter worth $2,216,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Hovde Group boosted their target price 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 equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $134.25.

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.