City (NASDAQ:CHCO) Sees Unusually-High Trading Volume - Should You Buy?

City Holding Company (NASDAQ:CHCO - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 179,342 shares traded hands during trading, an increase of 146% from the previous session's volume of 73,024 shares.The stock last traded at $126.51 and had previously closed at $127.48.

City Stock Performance

The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 15.83 and a beta of 0.54. The stock's fifty day moving average is $119.94 and its 200-day moving average is $118.15. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20.

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

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, July 15th. City's dividend payout ratio is presently 39.60%.

Insiders Place Their Bets

In other City news, CFO David L. Bumgarner sold 441 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $118.00, for a total transaction of $52,038.00. Following the sale, the chief financial officer directly owned 10,195 shares of the company's stock, valued at approximately $1,203,010. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $116.22, for a total transaction of $162,708.00. Following the completion of the transaction, the executive vice president directly owned 2,830 shares in the company, valued at $328,902.60. The trade was a 33.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,899 shares of company stock valued at $339,590. 1.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On City

A number of large investors have recently bought and sold shares of CHCO. Smartleaf Asset Management LLC boosted its stake in shares of City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock valued at $56,000 after purchasing an additional 405 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in City by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after buying an additional 22,226 shares during the period. Raymond James Financial Inc. acquired a new stake in City during the 4th quarter worth approximately $361,000. PNC Financial Services Group Inc. boosted its position in City by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock worth $162,000 after buying an additional 131 shares during the period. Finally, Amundi boosted its position in City by 187.6% during the 4th quarter. Amundi now owns 7,443 shares of the bank's stock worth $871,000 after buying an additional 4,855 shares during the period. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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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