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 dated Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the sale, the executive vice president owned 1,830 shares of the company's stock, valued at approximately $239,949.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

City Price Performance

Shares of CHCO stock opened at $129.25 on Friday. The stock's fifty day simple moving average is $121.59 and its 200 day simple moving average is $118.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.83. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 15.56 and a beta of 0.54. City Holding Company has a one year low of $102.22 and a one year high of $137.28.

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

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, July 15th. City's dividend payout ratio is currently 39.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHCO. Keefe, Bruyette & Woods lifted their price target on City from $125.00 to $135.00 and gave the company a "market perform" rating in a report on Wednesday. DA Davidson lifted their price target on City from $128.00 to $137.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Hovde Group lifted their price objective on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Wednesday.

Hedge Funds Weigh In On City

Large investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after acquiring an additional 115 shares during the period. CWM LLC increased its holdings in shares of City by 43.9% in the first quarter. CWM LLC now owns 282 shares of the bank's stock worth $33,000 after acquiring an additional 86 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of City by 781.3% during the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock worth $50,000 after buying an additional 375 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of City by 69.0% during the second quarter. GAMMA Investing LLC now owns 546 shares of the bank's stock worth $67,000 after buying an additional 223 shares in the last quarter. Finally, First United Bank & Trust bought a new position in City in the first quarter valued at approximately $78,000. Institutional investors and hedge funds own 72.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.