City (NASDAQ:CHCO) Shares Cross Below Fifty Day Moving Average – Here’s Why

City Holding Company (NASDAQ:CHCO) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $121.90 and traded as low as $121.78. City shares last traded at $122.07, with a volume of 69,722 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CHCO. Piper Sandler started coverage on City in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $125.00 price objective on the stock. Wall Street Zen cut City from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “buy (b+)” rating on shares of City in a report on Tuesday, December 23rd. Finally, Zacks Research cut shares of City from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $133.25.

City Trading Down 2.4%

The business’s 50 day simple moving average is $121.84 and its 200-day simple moving average is $123.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $1.72 billion, a P/E ratio of 13.70 and a beta of 0.52.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.26. City had a return on equity of 16.66% and a net margin of 32.33%.The company had revenue of $61.29 million for the quarter, compared to the consensus estimate of $80.17 million. As a group, analysts forecast that City Holding Company will post 7.58 EPS for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, January 15th. City’s payout ratio is presently 40.00%.

Insider Buying and Selling at City

In related news, CEO Charles R. Hageboeck sold 2,017 shares of City stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $120.68, for a total transaction of $243,411.56. Following the transaction, the chief executive officer owned 50,359 shares of the company’s stock, valued at $6,077,324.12. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have purchased 416 shares of company stock valued at $48,768. Company insiders own 1.87% of the company’s stock.

Institutional Investors Weigh In On City

Several large investors have recently made changes to their positions in CHCO. JPMorgan Chase & Co. lifted its position in City by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after acquiring an additional 22,536 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of City by 3.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 12,267 shares of the bank’s stock valued at $1,521,000 after purchasing an additional 415 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of City during the third quarter worth about $227,000. Finally, Dark Forest Capital Management LP boosted its position in shares of City by 12.8% during the third quarter. Dark Forest Capital Management LP now owns 21,657 shares of the bank’s stock worth $2,683,000 after buying an additional 2,450 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.