Shares of City Holding Company (NASDAQ:CHCO - Get Free Report) saw strong trading volume on Wednesday . 179,342 shares were traded 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 Trading Down 0.7%
The business has a fifty day moving average of $120.48 and a 200-day moving average of $118.26. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $1.81 billion, a P/E ratio of 15.65 and a beta of 0.54.
City (NASDAQ:CHCO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (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 company had revenue of $74.55 million for the quarter, compared to analysts' expectations of $73.28 million. Analysts anticipate that City Holding Company will post 7.58 earnings per share for the current fiscal year.
City Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, July 15th. City's dividend payout ratio is currently 39.60%.
Insider Activity at City
In related news, Director James M. Parsons purchased 2,200 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost 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. This represents a 440.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $116.22, for a total value of $162,708.00. Following the completion of the sale, the executive vice president directly owned 2,830 shares of the company's stock, 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. In the last three months, insiders sold 2,899 shares of company stock valued at $339,590. 1.87% of the stock is owned by insiders.
Institutional Investors Weigh In On City
Several large investors have recently made changes to their positions in CHCO. Raymond James Financial Inc. purchased a new stake in shares of City during the 4th quarter valued at $361,000. PNC Financial Services Group Inc. increased its position in shares of City by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after purchasing an additional 131 shares during the last quarter. Amundi increased its position in shares of City by 187.6% during the 4th quarter. Amundi now owns 7,443 shares of the bank's stock valued at $871,000 after purchasing an additional 4,855 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of City by 0.8% during the 4th 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 during the period. Finally, Intech Investment Management LLC grew its stake in shares of City by 135.9% during the 4th quarter. Intech Investment Management LLC now owns 5,291 shares of the bank's stock worth $627,000 after acquiring an additional 3,048 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.
City Company Profile
(
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.
See Also
Before you consider City, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and City wasn't on the list.
While City currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
