Insider Selling: City Holding (NASDAQ:CHCO) EVP Sells $302,615.34 in Stock

City Holding (NASDAQ:CHCO) EVP John A. Derito sold 2,887 shares of City stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $104.82, for a total transaction of $302,615.34. Following the completion of the sale, the executive vice president now directly owns 31,369 shares of the company’s stock, valued at approximately $3,288,098.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

City Stock Performance

NASDAQ CHCO opened at $102.77 on Thursday. The business has a 50-day moving average price of $102.62 and a 200-day moving average price of $102.86. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 12.93 and a beta of 0.50. City Holding has a twelve month low of $85.41 and a twelve month high of $115.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.13. City had a net margin of 33.78% and a return on equity of 18.31%. The business had revenue of $72.60 million during the quarter, compared to analyst estimates of $71.45 million. As a group, equities research analysts predict that City Holding will post 7.65 EPS for the current fiscal year.

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 $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Friday, April 12th. City’s payout ratio is currently 35.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. bought a new stake in shares of City in the fourth quarter worth about $38,000. Federated Hermes Inc. raised its holdings in shares of City by 28.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock worth $103,000 after acquiring an additional 249 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after acquiring an additional 604 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of City by 206.2% in the third quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock valued at $178,000 after purchasing an additional 1,330 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of City in the first quarter valued at $180,000. Institutional investors own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CHCO shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $110.00 price target (up previously from $100.00) on shares of City in a research report on Thursday, April 25th. Stephens reduced their price target on City from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Hovde Group raised their price objective on City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler boosted their price objective on City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $106.75.

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.