Jeffrey Dale Legge Sells 1,309 Shares of City (NASDAQ:CHCO) Stock

City Holding Company (NASDAQ:CHCO) EVP Jeffrey Dale Legge sold 1,309 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total transaction of $163,625.00. Following the transaction, the executive vice president owned 7,656 shares in the company, valued at approximately $957,000. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

City Stock Up 0.1%

City stock opened at $124.60 on Friday. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $133.59. The stock has a market cap of $1.76 billion, a PE ratio of 13.72 and a beta of 0.50. The firm’s 50-day simple moving average is $123.09 and its 200 day simple moving average is $122.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

City (NASDAQ:CHCO) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million for the quarter, compared to analysts’ expectations of $79.25 million. Research analysts predict that City Holding Company will post 8.99 EPS for the current fiscal year.

City Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, April 15th. City’s payout ratio is presently 38.33%.

City declared that its board has authorized a share buyback plan on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Separately, Hovde Group boosted their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, City currently has a consensus rating of “Hold” and an average target price of $134.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHCO. JPMorgan Chase & Co. lifted its stake in shares of City by 11.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after buying an additional 22,536 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of City by 14.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock valued at $6,999,000 after buying an additional 7,081 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in shares of City by 63.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after buying an additional 29,828 shares in the last quarter. MQS Management LLC purchased a new stake in shares of City during the 3rd quarter valued at approximately $521,000. Finally, Rafferty Asset Management LLC lifted its stake in shares of City by 86.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock valued at $2,354,000 after buying an additional 8,795 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

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.