Insider Selling: City Holding (NASDAQ:CHCO) CFO Sells 2,101 Shares of Stock

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 2,101 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $98.54, for a total value of $207,032.54. Following the completion of the transaction, the chief financial officer now directly owns 8,784 shares in the company, valued at approximately $865,575.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

City Price Performance

Shares of CHCO stock traded down $0.46 on Monday, reaching $98.34. The company’s stock had a trading volume of 17,794 shares, compared to its average volume of 72,676. City Holding has a 12-month low of $82.53 and a 12-month high of $102.91. The stock’s 50 day simple moving average is $91.78 and its 200-day simple moving average is $92.35. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.46 billion, a P/E ratio of 12.58 and a beta of 0.56.

City (NASDAQ:CHCO) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.07. City had a return on equity of 19.88% and a net margin of 35.38%. The firm had revenue of $73.27 million for the quarter, compared to analysts’ expectations of $72.61 million. As a group, equities analysts predict that City Holding will post 8.19 earnings per share for the current fiscal year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Monday, January 15th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, January 11th. City’s dividend payout ratio (DPR) is currently 36.57%.

Analyst Ratings Changes

Several equities analysts have weighed in on CHCO shares. Piper Sandler increased their price objective on City from $96.00 to $97.00 and gave the company a “neutral” rating in a report on Monday, October 30th. StockNews.com initiated coverage on City in a report on Thursday, October 5th. They set a “sell” rating for the company.

Institutional Investors Weigh In On City

Several hedge funds have recently added to or reduced their stakes in CHCO. Public Employees Retirement System of Ohio raised its holdings in City by 8.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 40,092 shares of the bank’s stock valued at $3,622,000 after buying an additional 3,007 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of City by 27.3% during the third quarter. The Manufacturers Life Insurance Company now owns 7,329 shares of the bank’s stock valued at $662,000 after acquiring an additional 1,570 shares during the last quarter. Lido Advisors LLC bought a new position in shares of City during the third quarter valued at about $237,000. Alps Advisors Inc. raised its stake in shares of City by 9.1% during the third quarter. Alps Advisors Inc. now owns 3,753 shares of the bank’s stock valued at $339,000 after acquiring an additional 313 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of City by 7.6% during the third quarter. AQR Capital Management LLC now owns 3,630 shares of the bank’s stock valued at $328,000 after acquiring an additional 257 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

About City

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.