Insider Selling: City Holding (NASDAQ:CHCO) EVP Sells $185,704.02 in Stock

City Holding (NASDAQ:CHCO) EVP Michael T. Quinlan, Jr. sold 1,773 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $104.74, for a total transaction of $185,704.02. Following the completion of the transaction, the executive vice president now owns 3,400 shares of the company’s stock, valued at $356,116. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

City Stock Performance

Shares of CHCO opened at $103.98 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. City Holding has a one year low of $82.53 and a one year high of $115.89. The company has a 50-day simple moving average of $101.80 and a two-hundred day simple moving average of $101.47. The firm has a market capitalization of $1.55 billion, a PE ratio of 13.08 and a beta of 0.51.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a $0.715 dividend. The ex-dividend date was Friday, April 12th. This represents a $2.86 annualized dividend and a yield of 2.75%. City’s dividend payout ratio (DPR) is presently 35.97%.

Wall Street Analyst Weigh In

CHCO has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $110.00 target price (up from $100.00) on shares of City in a research report on Thursday, April 25th. Stephens cut their target price on City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Piper Sandler raised their target price on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st.

Institutional Trading of City

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of City by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock valued at $35,940,000 after purchasing an additional 16,123 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of City by 577.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank’s stock valued at $11,938,000 after purchasing an additional 92,276 shares during the last quarter. Norges Bank bought a new stake in shares of City during the fourth quarter valued at approximately $10,953,000. Principal Financial Group Inc. increased its position in shares of City by 1.2% during the first quarter. Principal Financial Group Inc. now owns 83,542 shares of the bank’s stock valued at $8,707,000 after acquiring an additional 999 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of City by 4.4% during the third quarter. American Century Companies Inc. now owns 69,998 shares of the bank’s stock valued at $6,324,000 after acquiring an additional 2,924 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

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.