City Holding (NASDAQ:CHCO) CFO David L. Bumgarner Sells 441 Shares

City Holding (NASDAQ:CHCO - Get Free Report) CFO David L. Bumgarner sold 441 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $118.00, for a total transaction of $52,038.00. Following the completion of the sale, the chief financial officer now owns 10,195 shares of the company's stock, valued at $1,203,010. This represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

City Price Performance

NASDAQ:CHCO traded down $0.35 on Friday, reaching $118.79. The stock had a trading volume of 3,678 shares, compared to its average volume of 59,602. The stock has a fifty day moving average price of $115.61 and a 200-day moving average price of $120.04. City Holding has a 1-year low of $99.63 and a 1-year high of $137.28. The company has a market capitalization of $1.75 billion, a P/E ratio of 15.06 and a beta of 0.52. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.22. The firm had revenue of $74.55 million during the quarter, compared to analysts' expectations of $73.28 million. City had a net margin of 30.83% and a return on equity of 16.49%. Research analysts forecast that City Holding will post 7.58 EPS for the current year.

City Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.66%. The ex-dividend date was Tuesday, April 15th. City's dividend payout ratio is 39.60%.

Institutional Trading of City

A number of institutional investors have recently bought and sold shares of CHCO. Bessemer Group Inc. increased its stake in shares of City by 69.7% in the 1st 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 last quarter. CWM LLC lifted its position in City by 43.9% in the 1st quarter. CWM LLC now owns 282 shares of the bank's stock valued at $33,000 after acquiring an additional 86 shares in the last quarter. Sterling Capital Management LLC boosted its stake in City by 781.3% in 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 period. Smartleaf Asset Management LLC increased its holdings in City by 710.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock worth $56,000 after purchasing an additional 405 shares in the last quarter. Finally, First United Bank & Trust acquired a new stake in shares of City in the 1st quarter valued at about $78,000. Institutional investors and hedge funds own 72.43% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their target price on shares of City from $135.00 to $125.00 and set a "neutral" rating for the company in a research note on Friday, January 24th.

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.