Jeffrey Dale Legge Sells 2,500 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) CAO Jeffrey Dale Legge sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.02, for a total transaction of $262,550.00. Following the transaction, the chief accounting officer now directly owns 7,194 shares in the company, valued at $755,513.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

City Price Performance

Shares of NASDAQ CHCO opened at $104.47 on Monday. City Holding has a fifty-two week low of $82.53 and a fifty-two week high of $115.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market cap of $1.55 billion, a PE ratio of 13.14 and a beta of 0.50. The business has a 50-day simple moving average of $102.01 and a two-hundred day simple moving average of $101.74.

City Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a dividend of $0.715 per share. The ex-dividend date was Friday, April 12th. This represents a $2.86 dividend on an annualized basis and a yield of 2.74%. City’s payout ratio is 35.97%.

Institutional Investors Weigh In On City

A number of large investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in City during the 4th quarter worth about $38,000. Federated Hermes Inc. increased its holdings in shares of City by 28.0% in the third quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after purchasing an additional 249 shares during the period. Quantbot Technologies LP raised its stake in shares of City by 206.2% in the third quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after purchasing an additional 1,330 shares during the last quarter. CIC Wealth LLC acquired a new stake in shares of City during the fourth quarter worth about $210,000. Finally, Lido Advisors LLC purchased a new stake in City in the third quarter valued at approximately $237,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHCO has been the topic of a number of research reports. Piper Sandler raised their target price on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Hovde Group raised their target price on shares of City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research report on Thursday. Stephens reduced their price objective on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $110.00 price objective (up previously from $100.00) on shares of City in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $106.75.

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.