City (NASDAQ:CHCO) CEO Charles Hageboeck Sells 375 Shares

Key Points

• CEO sale: Charles Hageboeck sold 375 shares on April 27 at an average price of $125 for $46,875, trimming his stake by 0.66% to 56,196 shares (about $7.02M).
• Dividend announced: City declared a quarterly dividend of $0.87 per share (annualized $3.48) with an ex-dividend date of April 15 and a yield around 2.7%.
• Buyback and results: The board approved a repurchase program of up to 1,000,000 shares, and the company recently beat quarterly EPS estimates ($2.20 vs. $2.17); the stock trades near $126.70 with a market cap of $1.82B.

City Holding Company (NASDAQ:CHCO - Get Free Report) CEO Charles Hageboeck sold 375 shares of the company's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $125.00, for a total transaction of $46,875.00. Following the sale, the chief executive officer owned 56,196 shares in the company, valued at $7,024,500. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

City Stock Performance

City stock traded up $2.24 during mid-day trading on Tuesday, reaching $126.70. The company's stock had a trading volume of 64,258 shares, compared to its average volume of 110,336. The firm's fifty day moving average price is $122.05 and its two-hundred day moving average price is $122.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.82. City Holding Company has a 12-month low of $113.21 and a 12-month high of $133.59. The company has a market capitalization of $1.82 billion, a P/E ratio of 13.96 and a beta of 0.49.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The firm had revenue of $79.25 million for the quarter, compared to analysts' expectations of $79.25 million. Sell-side analysts predict that City Holding Company will post 8.87 EPS for the current fiscal year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. City's payout ratio is presently 38.33%.

City declared that its board has approved a share buyback program on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp boosted its stake in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in City during the 4th quarter valued at approximately $29,000. Quarry LP purchased a new position in shares of City during the 3rd quarter worth approximately $32,000. Simplex Trading LLC bought a new position in shares of City in the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock valued at $46,000 after purchasing an additional 198 shares during the period. 72.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CHCO shares. Hovde Group increased their target price on City from $133.00 to $135.00 and gave the company a "market perform" rating in a research note on Tuesday. Piper Sandler increased their price target on shares of City from $125.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $134.25.

About City

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.

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