City (NASDAQ:CHCO) EVP Michael Quinlan Jr Sells 1,210 Shares

Key Points

• City EVP Michael Quinlan Jr. sold 1,210 shares on April 28 at an average price of $126.09 for $152,568.90, leaving him with 3,314 shares — a 26.75% reduction in his position.
• Company corporate actions: City declared a quarterly dividend of $0.87 per share (annualized $3.48, ~2.8% yield, ex-dividend April 15, payable April 30) and its board authorized a share buyback program for 1,000,000 shares.
• Recent results and market view: City reported EPS of $2.20 beating estimates by $0.03, its stock traded down ~1.3% to $124.34, and analysts maintain a consensus "Hold" with an average target of $134.25.

City Holding Company (NASDAQ:CHCO - Get Free Report) EVP Michael Quinlan, Jr. sold 1,210 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the transaction, the executive vice president owned 3,314 shares in the company, valued at $417,862.26. This represents a 26.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

City Stock Down 1.3%

CHCO traded down $1.59 during midday trading on Wednesday, reaching $124.34. The company's stock had a trading volume of 29,866 shares, compared to its average volume of 109,902. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 13.68 and a beta of 0.49. 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 Holding Company has a 1 year low of $113.21 and a 1 year high of $133.59. The stock's 50-day moving average is $122.04 and its 200-day moving average is $122.29.

City (NASDAQ:CHCO - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $79.25 million. As a group, research analysts expect that City Holding Company will post 8.87 EPS for the current year.

City Announces Dividend

The company also recently declared 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 is Wednesday, April 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. City's dividend payout ratio is presently 38.33%.

City declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On City

Institutional investors and hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. lifted its holdings in shares of City by 6.5% in the 1st quarter. QRG Capital Management Inc. now owns 4,649 shares of the bank's stock worth $556,000 after acquiring an additional 282 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of City by 11.9% in the 1st quarter. Inspire Investing LLC now owns 4,302 shares of the bank's stock worth $514,000 after acquiring an additional 459 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of City in the 1st quarter worth about $765,000. Virtu Financial LLC bought a new stake in City during the 4th quarter valued at about $1,353,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in City during the 4th quarter valued at about $202,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Hovde Group increased their price target on shares of City from $133.00 to $135.00 and gave the stock a "market perform" rating in a research report on Tuesday. Piper Sandler raised their price objective 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 equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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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