Insider Selling: City Holding (NASDAQ:CHCO) CEO Sells 6,065 Shares of Stock

City Holding (NASDAQ:CHCO) CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the sale, the chief executive officer now owns 44,974 shares of the company’s stock, valued at approximately $5,847,969.22. This represents a 11.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

City Trading Down 0.9 %

CHCO stock traded down $1.20 during midday trading on Monday, reaching $129.04. 7,327 shares of the company’s stock traded hands, compared to its average volume of 56,859. City Holding has a fifty-two week low of $95.39 and a fifty-two week high of $136.51. The business has a 50-day moving average price of $119.35 and a two-hundred day moving average price of $113.13. The company has a market capitalization of $1.90 billion, a P/E ratio of 16.50 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The firm had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. Equities research analysts forecast that City Holding will post 7.84 EPS for the current fiscal year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.79 per share. This is a positive change from City’s previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, October 15th. This represents a $3.16 annualized dividend and a yield of 2.45%. City’s payout ratio is presently 40.56%.

Analyst Ratings Changes

Separately, Piper Sandler reissued a “neutral” rating and issued a $135.00 target price on shares of City in a report on Friday, November 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CHCO. BNP Paribas Financial Markets grew its stake in City by 48.5% during the 1st quarter. BNP Paribas Financial Markets now owns 7,260 shares of the bank’s stock valued at $757,000 after acquiring an additional 2,370 shares in the last quarter. SG Americas Securities LLC acquired a new position in City in the 1st quarter valued at approximately $180,000. Russell Investments Group Ltd. lifted its position in shares of City by 6.6% in the 1st quarter. Russell Investments Group Ltd. now owns 10,459 shares of the bank’s stock worth $1,090,000 after acquiring an additional 650 shares during the period. ProShare Advisors LLC grew its holdings in shares of City by 5.9% during the 1st quarter. ProShare Advisors LLC now owns 2,955 shares of the bank’s stock worth $308,000 after purchasing an additional 165 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of City by 90.7% during the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after purchasing an additional 604 shares during the period. 72.43% of the stock is currently owned by institutional investors.

About City

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.