City (NASDAQ:CHCO) CFO David Bumgarner Sells 805 Shares

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 805 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $124.50, for a total transaction of $100,222.50. Following the sale, the chief financial officer directly owned 11,827 shares in the company, valued at $1,472,461.50. The trade was a 6.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

City Stock Up 0.1%

NASDAQ:CHCO traded up $0.15 during mid-day trading on Thursday, hitting $124.03. 29,433 shares of the company’s stock were exchanged, compared to its average volume of 105,811. City Holding Company has a one year low of $113.21 and a one year high of $133.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average price of $122.31 and a 200 day moving average price of $122.50. The company has a market cap of $1.75 billion, a PE ratio of 13.66 and a beta of 0.50.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. Equities analysts predict that City Holding Company will post 8.99 EPS for the current year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were paid a $0.87 dividend. 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 declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 25th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CHCO shares. Piper Sandler upped their target price on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Hovde Group upped their target price on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $134.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi lifted its position in City by 37.7% during the first quarter. Amundi now owns 2,794 shares of the bank’s stock valued at $334,000 after purchasing an additional 765 shares during the period. Quantinno Capital Management LP lifted its position in City by 41.3% during the first quarter. Quantinno Capital Management LP now owns 8,429 shares of the bank’s stock valued at $1,008,000 after purchasing an additional 2,465 shares during the period. Renaissance Technologies LLC lifted its position in City by 55.0% during the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock valued at $7,373,000 after purchasing an additional 21,898 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in City by 40.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 48,766 shares of the bank’s stock valued at $5,829,000 after purchasing an additional 13,976 shares during the period. Finally, Sei Investments Co. lifted its position in City by 24.8% during the first quarter. Sei Investments Co. now owns 6,557 shares of the bank’s stock valued at $784,000 after purchasing an additional 1,301 shares during the period. Institutional investors own 72.43% of the company’s stock.

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.