City (NASDAQ:CHCO) CEO Charles Hageboeck Sells 4,485 Shares of Stock

City Holding Company (NASDAQ:CHCO) CEO Charles Hageboeck sold 4,485 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total value of $650,145.60. Following the sale, the chief executive officer directly owned 43,998 shares of the company’s stock, valued at $6,377,950.08. This represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

City Stock Performance

Shares of City stock opened at $145.11 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. The stock’s fifty day moving average is $132.08 and its two-hundred day moving average is $126.07. City Holding Company has a 52 week low of $113.21 and a 52 week high of $146.66. The company has a market capitalization of $2.05 billion, a PE ratio of 15.88 and a beta of 0.49.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. City had a return on equity of 16.38% and a net margin of 32.58%. As a group, analysts expect that City Holding Company will post 9.29 earnings per share for the current year.

City Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. City’s dividend payout ratio (DPR) is currently 38.07%.

Hedge Funds Weigh In On City

Several institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in shares of City by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 2,740 shares of the bank’s stock valued at $327,000 after acquiring an additional 81 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in City by 4.2% during the 4th quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank’s stock worth $238,000 after acquiring an additional 81 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in City by 28.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after acquiring an additional 110 shares in the last quarter. R Squared Ltd increased its position in City by 6.6% during the 4th quarter. R Squared Ltd now owns 2,135 shares of the bank’s stock valued at $254,000 after purchasing an additional 132 shares during the period. Finally, First Horizon Corp increased its position in 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 purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

CHCO has been the subject of several research reports. Hovde Group boosted their price objective on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, City has an average rating of “Hold” and an average price target of $136.50.

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.