City Holding Company (NASDAQ:CHCO) EVP Sells $131,120.00 in Stock

Key Points

• City Holding Company's EVP Michael T. Quinlan, Jr. sold 1,000 shares of stock for a total of $131,120, reducing his ownership by 35.34% to 1,830 shares.
• The company reported $2.29 EPS for the last quarter, exceeding analysts' estimates and generating a revenue of $78.16 million.
• City Holding Company announced a quarterly dividend of $0.79, with an annualized dividend of $3.16 and a yield of 2.44%, to be paid to shareholders of record on July 15th.

City Holding Company (NASDAQ:CHCO - Get Free Report) EVP Michael T. Quinlan, Jr. sold 1,000 shares of City stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the completion of the transaction, the executive vice president owned 1,830 shares of the company's stock, valued at approximately $239,949.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

City Price Performance

Shares of NASDAQ CHCO traded down $0.10 during mid-day trading on Tuesday, hitting $126.57. 39,207 shares of the stock were exchanged, compared to its average volume of 81,995. City Holding Company has a twelve month low of $102.22 and a twelve month high of $137.28. The company has a market cap of $1.83 billion, a P/E ratio of 15.23 and a beta of 0.54. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.81. The stock's fifty day simple moving average is $121.90 and its two-hundred day simple moving average is $118.88.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.32. City had a net margin of 31.35% and a return on equity of 16.30%. The business had revenue of $78.16 million during the quarter, compared to analyst estimates of $76.10 million. As a group, analysts forecast that City Holding Company will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.50%. City's dividend payout ratio (DPR) is presently 38.03%.

Analysts Set New Price Targets

Several research analysts have issued reports on CHCO shares. Keefe, Bruyette & Woods upped their price target on City from $125.00 to $135.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of City from a "sell" rating to a "hold" rating in a report on Saturday. Hovde Group increased their target price on shares of City from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Finally, DA Davidson increased their target price on shares of City from $128.00 to $137.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $133.25.

Hedge Funds Weigh In On City

Hedge funds and other institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. lifted its position in City by 24.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock valued at $74,192,000 after acquiring an additional 123,394 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in City by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock worth $68,139,000 after buying an additional 29,302 shares in the last quarter. City Holding Co. raised its holdings in shares of City by 3.0% in the 2nd quarter. City Holding Co. now owns 263,664 shares of the bank's stock valued at $32,278,000 after purchasing an additional 7,636 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of City by 24.2% in the 4th quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock valued at $31,071,000 after purchasing an additional 51,055 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of City by 2.3% in the 4th quarter. Northern Trust Corp now owns 178,962 shares of the bank's stock valued at $21,203,000 after purchasing an additional 3,944 shares during the period. 72.43% of the stock is owned by institutional investors.

City Company Profile

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.