City Holding Company (NASDAQ:CHCO - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 179,342 shares traded hands during mid-day 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 Price Performance
The company has a 50 day moving average price of $120.34 and a 200 day moving average price of $118.24. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.76 and a beta of 0.54. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20.
City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, topping 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 business had revenue of $74.55 million during the quarter, compared to analysts' expectations of $73.28 million. As a group, equities research analysts forecast that City Holding Company will post 7.58 earnings per share for the current year.
City Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.51%. City's dividend payout ratio (DPR) is presently 39.60%.
Insider Buying and Selling
In related news, CFO David L. Bumgarner sold 441 shares of City stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $118.00, for a total transaction of $52,038.00. Following the completion of the sale, the chief financial officer directly owned 10,195 shares of the company's stock, valued at $1,203,010. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Parsons acquired 2,200 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of $122.38 per share, with a total value of $269,236.00. Following the completion of the purchase, the director owned 2,700 shares of the company's stock, valued at $330,426. This trade represents a 440.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 2,899 shares of company stock valued at $339,590 over the last three months. Company insiders own 1.87% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of City by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after acquiring an additional 22,226 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of City in the fourth quarter worth about $361,000. PNC Financial Services Group Inc. increased its holdings in shares of City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock worth $162,000 after acquiring an additional 131 shares in the last quarter. Amundi increased its holdings in shares of City by 187.6% in the fourth quarter. Amundi now owns 7,443 shares of the bank's stock worth $871,000 after acquiring an additional 4,855 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of City by 0.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank's stock worth $12,964,000 after acquiring an additional 885 shares in the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.
About City
(
Get Free Report)
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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