Insider Selling: City (NASDAQ:CHCO) CFO Sells $144,544.50 in Stock

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 1,161 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $124.50, for a total transaction of $144,544.50. Following the transaction, the chief financial officer owned 10,666 shares in the company, valued at approximately $1,327,917. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

City Stock Performance

CHCO opened at $124.60 on Friday. City Holding Company has a 52-week low of $113.21 and a 52-week high of $133.59. 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 company has a market cap of $1.76 billion, a P/E ratio of 13.72 and a beta of 0.50. The firm’s 50-day moving average price is $123.09 and its 200-day moving average price is $122.73.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.03. The firm had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. As a group, equities analysts anticipate that City Holding Company will post 8.99 EPS for the current fiscal year.

City Dividend Announcement

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

City announced that its Board of Directors has approved a share buyback plan on Wednesday, March 25th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CHCO shares. Hovde Group upped their target price on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research report on Wednesday. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $134.25.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. First Horizon Corp increased its position in shares of City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in City in the 4th quarter valued at $29,000. Quarry LP purchased a new position in City in the 3rd quarter valued at $32,000. Simplex Trading LLC purchased a new position in City in the 4th quarter valued at $36,000. Finally, Geneos Wealth Management Inc. lifted its holdings in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares in the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

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.