City (NASDAQ:CHCO) Sees Large Volume Increase - Here's Why

City Holding Company (NASDAQ:CHCO - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 127,104 shares traded hands during mid-day trading, an increase of 103% from the previous session's volume of 62,702 shares.The stock last traded at $128.65 and had previously closed at $127.35.

City Trading Up 1.2%

The company has a market cap of $1.87 billion, a PE ratio of 16.15 and a beta of 0.54. The stock has a fifty day moving average of $119.09 and a 200-day moving average of $118.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.83.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.22. City had a return on equity of 16.15% and a net margin of 30.62%. The firm had revenue of $74.55 million during the quarter, compared to analyst estimates of $73.28 million. Sell-side analysts anticipate that City Holding Company will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, July 15th. City's dividend payout ratio (DPR) is 39.60%.

Insider Transactions at City

In related news, Director James M. Parsons bought 2,200 shares of the company's stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $122.38 per share, with a total value of $269,236.00. Following the transaction, the director owned 2,700 shares of the company's stock, valued at $330,426. The trade was a 440.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $116.22, for a total value of $162,708.00. Following the sale, the executive vice president owned 2,830 shares of the company's stock, valued at $328,902.60. This trade represents a 33.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,899 shares of company stock valued at $339,590. Company insiders own 1.87% of the company's stock.

Hedge Funds Weigh In On City

Large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. CWM LLC increased its position in shares of City by 43.9% during the first quarter. CWM LLC now owns 282 shares of the bank's stock worth $33,000 after purchasing an additional 86 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock valued at $50,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock worth $56,000 after purchasing an additional 405 shares in the last quarter. Finally, First United Bank & Trust acquired a new stake in shares of City in the 1st quarter worth $78,000. 72.43% of the stock is currently owned by institutional investors.

City Company Profile

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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