City Holding Company (NASDAQ:CHCO) EVP Sells $327,650.00 in Stock

Key Points

• Executive Sale: City Holding Company's EVP, Jeffrey Dale Legge, sold 2,500 shares for $327,650, reducing his ownership by 26.21% to 7,037 shares valued at approximately $922,269.
• Quarterly Earnings Report: The company reported earnings per share of $2.29, surpassing expectations of $1.97, with a revenue of $78.16 million against an expected $76.10 million.
• Dividend Announcement: City Holding declared a quarterly dividend of $0.79 per share, to be paid on July 31, with an annualized yield of 2.46% and a payout ratio of 38.03%.
• Analyst Upgrades: Research analysts have raised their price targets for City Holding, with DA Davidson setting it at $137 and Hovde Group at $136, both maintaining a "market perform" rating.

City Holding Company (NASDAQ:CHCO - Get Free Report) EVP Jeffrey Dale Legge sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.06, for a total value of $327,650.00. Following the completion of the transaction, the executive vice president owned 7,037 shares of the company's stock, valued at $922,269.22. This represents a 26.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

City Stock Down 1.2%

Shares of City stock traded down $1.54 during trading on Friday, reaching $128.46. The stock had a trading volume of 36,468 shares, compared to its average volume of 81,804. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 15.43 and a beta of 0.54. The stock has a fifty day moving average price of $121.59 and a two-hundred day moving average price of $118.60. The company has a current ratio of 0.81, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28.

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

City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, July 15th. City's payout ratio is 38.03%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On City

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in shares of City by 69.7% during the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock worth $33,000 after purchasing an additional 115 shares during the last quarter. CWM LLC increased its stake in shares of City by 43.9% during the 1st quarter. CWM LLC now owns 282 shares of the bank's stock worth $33,000 after purchasing an additional 86 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock worth $50,000 after purchasing an additional 375 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of City by 69.0% during the 2nd quarter. GAMMA Investing LLC now owns 546 shares of the bank's stock worth $67,000 after purchasing an additional 223 shares during the last quarter. Finally, First United Bank & Trust acquired a new position in shares of City during the 1st quarter worth about $78,000. Institutional investors own 72.43% of the company's stock.

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.

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