City Holding Company (NASDAQ:CHCO - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 158,166 shares changed hands during mid-day trading, an increase of 132% from the previous session's volume of 68,057 shares.The stock last traded at $123.92 and had previously closed at $125.13.
City Trading Down 2.1%
The stock has a market capitalization of $1.77 billion, a P/E ratio of 15.34 and a beta of 0.54. The business has a 50 day simple moving average of $120.48 and a 200-day simple moving average of $118.21. 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 posted 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 for the quarter, compared to analyst estimates of $73.28 million. On average, analysts predict that City Holding Company will post 7.58 EPS for the current year.
City Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Tuesday, July 15th. City's dividend payout ratio (DPR) is presently 39.60%.
Insider Transactions at City
In related news, Director James M. Parsons bought 2,200 shares of the business's stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $122.38 per share, for a total transaction of $269,236.00. Following the completion of the transaction, the director directly owned 2,700 shares of the company's stock, valued at approximately $330,426. This represents a 440.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David L. Bumgarner sold 1,058 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $118.00, for a total transaction of $124,844.00. Following the transaction, the chief financial officer directly owned 10,636 shares of the company's stock, valued at $1,255,048. The trade was a 9.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,899 shares of company stock worth $339,590 in the last three months. Insiders own 1.87% of the company's stock.
Institutional Investors Weigh In On City
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in City by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank's stock worth $1,481,000 after purchasing an additional 893 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of City by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,981 shares of the bank's stock valued at $1,408,000 after buying an additional 1,340 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of City by 6.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,651 shares of the bank's stock valued at $546,000 after buying an additional 301 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of City by 69.7% during the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after buying an additional 115 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in City by 18.4% during the 1st quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank's stock worth $525,000 after acquiring an additional 693 shares during the period. 72.43% of the stock is owned by institutional investors.
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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