City (NASDAQ:CHCO) CFO David Bumgarner Sells 402 Shares

Key Points

• CFO David Bumgarner sold 402 shares on May 6 at an average price of $125 for proceeds of $50,250, leaving him with 12,632 shares — a 3.08% decrease in his ownership.
• Board approved a stock buyback authorizing repurchases of up to 1,000,000 outstanding shares, allowing open-market purchases that may signal the board sees the stock as undervalued.
• Quarterly results and shareholder payout: City reported $2.20 EPS vs. $2.17 expected and paid a $0.87 quarterly dividend (annualized $3.48, yield ~2.8%, DPR 38.33%).

City Holding Company (NASDAQ:CHCO - Get Free Report) CFO David Bumgarner sold 402 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $125.00, for a total value of $50,250.00. Following the sale, the chief financial officer directly owned 12,632 shares of the company's stock, valued at $1,579,000. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

City Trading Up 0.4%

Shares of NASDAQ:CHCO traded up $0.48 during trading on Thursday, hitting $123.44. 19,737 shares of the company's stock were exchanged, compared to its average volume of 108,050. The firm has a 50-day moving average price of $121.94 and a two-hundred day moving average price of $122.37. City Holding Company has a 1-year low of $113.21 and a 1-year high of $133.59. The firm has a market cap of $1.77 billion, a P/E ratio of 13.60 and a beta of 0.50. The company has a current ratio of 0.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $79.25 million for the quarter, compared to analysts' expectations of $79.25 million. Equities analysts predict that City Holding Company will post 8.99 earnings per share for the current year.

City announced that its board has approved a stock buyback plan on Wednesday, March 25th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

City Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 15th. City's dividend payout ratio (DPR) is currently 38.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CHCO. Piper Sandler raised their target price 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. Hovde Group lifted their target price on City from $133.00 to $135.00 and gave the company a "market perform" rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, City currently has an average rating of "Hold" and an average price target of $134.25.

Institutional Trading of City

Hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank's stock valued at $78,247,000 after purchasing an additional 6,371 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of City by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank's stock worth $70,740,000 after buying an additional 6,552 shares during the period. JPMorgan Chase & Co. grew its stake in City by 0.6% in the 4th quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank's stock valued at $25,443,000 after buying an additional 1,354 shares during the last quarter. Two Sigma Investments LP raised its holdings in City by 136.4% in the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank's stock valued at $15,335,000 after acquiring an additional 71,436 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in City by 19.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 94,830 shares of the bank's stock valued at $11,747,000 after acquiring an additional 15,546 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

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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