City (NASDAQ:CHCO) EVP Jeffrey Dale Legge Sells 1,309 Shares of Stock

City Holding Company (NASDAQ:CHCO) EVP Jeffrey Dale Legge sold 1,309 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the transaction, the executive vice president directly owned 7,656 shares in the company, valued at approximately $957,000. This represents a 14.60% 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 $124.52 on Thursday. 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 $122.96 and its 200 day moving average price is $122.70. The firm has a market cap of $1.76 billion, a P/E ratio of 13.71 and a beta of 0.50. 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 (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, beating 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 company 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 15th. City’s payout ratio is currently 38.33%.

Institutional Investors Weigh In On City

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Corp lifted its position in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of City during the 4th quarter worth approximately $29,000. Quarry LP acquired a new position in shares of City during the 3rd quarter worth approximately $32,000. Simplex Trading LLC acquired a new position in shares of City during the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. raised its position 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 purchasing an additional 198 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, 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 investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.