City (NASDAQ:CHCO) CEO Sells $733,631.50 in Stock

Key Points

• CEO sold 5,855 shares at an average price of $125.30 for a total of $733,631.50, reducing Charles Hageboeck's ownership by 10.42% to 50,341 shares (valued at about $6.31M).
• Quarterly dividend of $0.87 per share was declared (annualized $3.48), implying a ~2.9% yield; the ex-dividend date was April 15 and the payment is scheduled for April 30, with a payout ratio of 38.33%.
• Board authorized a 1,000,000‑share buyback, and the company reported Q earnings of $2.20 EPS (vs. $2.17 est.) with a net margin of 32.72% and ROE of 16.58%, indicating solid profitability.

City Holding Company (NASDAQ:CHCO - Get Free Report) CEO Charles Hageboeck sold 5,855 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $125.30, for a total transaction of $733,631.50. Following the completion of the sale, the chief executive officer owned 50,341 shares of the company's stock, valued at $6,307,727.30. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

City Stock Performance

Shares of City stock traded down $4.52 on Wednesday, reaching $121.40. The stock had a trading volume of 96,208 shares, compared to its average volume of 110,762. The business's 50-day moving average price is $122.04 and its two-hundred day moving average price is $122.29. 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 fifty-two week low of $113.21 and a fifty-two week high of $133.59. The stock has a market cap of $1.74 billion, a P/E ratio of 13.37 and a beta of 0.49.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million during the quarter, compared to analysts' expectations of $79.25 million. On average, sell-side analysts forecast that City Holding Company will post 8.87 EPS for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, April 15th. City's dividend payout ratio is presently 38.33%.

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

Hedge Funds Weigh In On City

Several large investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC raised its stake in City by 4.2% during the 4th quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank's stock valued at $238,000 after purchasing an additional 81 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of City by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 2,740 shares of the bank's stock valued at $327,000 after buying an additional 81 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of City by 28.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank's stock valued at $61,000 after buying an additional 110 shares in the last quarter. R Squared Ltd raised its stake in shares of City by 6.6% in the 4th quarter. R Squared Ltd now owns 2,135 shares of the bank's stock valued at $254,000 after buying an additional 132 shares in the last quarter. Finally, First Horizon Corp raised its stake in shares of City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after buying an additional 146 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CHCO. Piper Sandler upped their target price on shares of City from $125.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, January 23rd. Hovde Group upped their target price on shares of City from $133.00 to $135.00 and gave the company a "market perform" rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, City currently has a consensus rating of "Hold" and an average price target 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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