Insider Selling: City (NASDAQ:CHCO) CEO Sells $650,145.60 in Stock

City Holding Company (NASDAQ:CHCO) CEO Charles Hageboeck sold 4,485 shares of City stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total value of $650,145.60. Following the completion of the transaction, the chief executive officer directly owned 43,998 shares in the company, valued at $6,377,950.08. This trade represents a 9.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

City Trading Down 0.1%

Shares of NASDAQ CHCO traded down $0.18 during trading hours on Friday, hitting $144.32. The company’s stock had a trading volume of 56,216 shares, compared to its average volume of 117,781. 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 Holding Company has a 12 month low of $113.21 and a 12 month high of $146.66. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 15.81 and a beta of 0.49. The business has a 50-day simple moving average of $131.67 and a 200-day simple moving average of $125.94.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. City had a return on equity of 16.38% and a net margin of 32.58%.The company had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. On average, analysts anticipate that City Holding Company will post 9.29 earnings per share for the current fiscal year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. City’s dividend payout ratio is 38.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in City in the fourth quarter valued at about $29,000. First Horizon Corp increased its holdings in shares of City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after acquiring an additional 146 shares in the last quarter. Quarry LP purchased a new position in shares of City in the 3rd quarter valued at approximately $32,000. Simplex Trading LLC acquired a new stake in City in the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. grew its position in City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after purchasing an additional 198 shares during the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CHCO. Hovde Group raised their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday. Weiss Ratings upgraded shares of City from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, City currently has a consensus rating of “Hold” and an average price target of $136.50.

About City

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.