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 shares were sold at an average price of $118.00, for a total value 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 approximately $1,203,010. The trade was a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
City Trading Down 0.4 %
NASDAQ:CHCO traded down $0.44 on Friday, reaching $118.70. The company's stock had a trading volume of 51,008 shares, compared to its average volume of 59,961. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 15.04 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 Holding has a 12-month low of $99.63 and a 12-month high of $137.28. The stock has a 50 day moving average price of $115.65 and a 200 day moving average price of $120.07.
City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.22. City had a net margin of 30.83% and a return on equity of 16.49%. The firm had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. On average, equities analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.
City Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $0.79 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.16 annualized dividend and a yield of 2.66%. City's dividend payout ratio (DPR) is presently 39.60%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. grew its stake in shares of City by 24.3% in the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock valued at $74,192,000 after buying an additional 123,394 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in City by 5.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock valued at $68,139,000 after acquiring an additional 29,302 shares in the last quarter. JPMorgan Chase & Co. increased its stake in City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock worth $31,071,000 after purchasing an additional 51,055 shares during the period. Northern Trust Corp increased its stake in City by 2.3% during the fourth quarter. Northern Trust Corp now owns 178,962 shares of the bank's stock worth $21,203,000 after purchasing an additional 3,944 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in shares of City by 0.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank's stock worth $12,964,000 after purchasing an additional 885 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Piper Sandler dropped their price target 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.
View Our Latest Report on City
About City
(
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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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