John A. Derito Sells 1,243 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) EVP John A. Derito sold 1,243 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the sale, the executive vice president now owns 28,757 shares in the company, valued at approximately $3,937,696.01. The trade was a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

City Price Performance

Shares of CHCO stock opened at $132.12 on Thursday. The company has a market capitalization of $1.94 billion, a P/E ratio of 16.96 and a beta of 0.46. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. City Holding has a 12 month low of $95.39 and a 12 month high of $137.28. The stock has a 50 day moving average of $121.30 and a two-hundred day moving average of $114.36.

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

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.39%. City’s payout ratio is currently 40.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leeward Investments LLC MA grew its stake in shares of City by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank’s stock valued at $9,452,000 after purchasing an additional 4,725 shares during the period. Alpha DNA Investment Management LLC acquired a new stake in City in the 2nd quarter valued at $483,000. Zhang Financial LLC bought a new stake in City in the second quarter valued at $401,000. Squarepoint Ops LLC raised its stake in City by 137.5% during the second quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock worth $1,158,000 after acquiring an additional 6,312 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of City by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,944 shares of the bank’s stock valued at $1,141,000 after acquiring an additional 423 shares during the period. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

City Company Profile

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.