City Holding Company (NASDAQ:CHCO - Get Free Report)'s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $137.67 and traded as high as $144.35. City shares last traded at $144.00, with a volume of 91,824 shares changing hands.
Analyst Upgrades and Downgrades
Several brokerages have commented on CHCO. Hovde Group upped their price objective on shares of City from $135.00 to $143.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Weiss Ratings lowered shares of City from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, City currently has a consensus rating of "Hold" and a consensus price target of $136.50.
Check Out Our Latest Report on CHCO
City Price Performance
The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $137.67 and a two-hundred day moving average price of $128.38. The stock has a market capitalization of $2.02 billion, a P/E ratio of 15.75 and a beta of 0.48.
City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The company had revenue of $81.52 million for the quarter, compared to analysts' expectations of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.34%. On average, analysts expect that City Holding Company will post 9.29 EPS for the current year.
City Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. City's dividend payout ratio is presently 38.07%.
Insider Activity at City
In related news, EVP Jeffrey Dale Legge sold 1,309 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the transaction, the executive vice president directly owned 7,656 shares in the company, valued at $957,000. The trade was a 14.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 4,485 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total value of $650,145.60. Following the completion of the transaction, the chief executive officer directly owned 43,998 shares in the company, valued at $6,377,950.08. This trade represents a 9.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 444 shares of company stock valued at $59,740 and have sold 7,652 shares valued at $1,044,906. 1.75% of the stock is owned by company insiders.
Hedge Funds Weigh In On City
A number of hedge funds have recently bought and sold shares of the business. Allworth Financial LP bought a new stake in shares of City in the second quarter worth approximately $27,000. First Horizon Corp lifted its position in City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after purchasing an additional 146 shares during the period. Kestra Advisory Services LLC purchased a new stake in City in the fourth quarter worth approximately $29,000. Quarry LP purchased a new stake in City in the third quarter worth approximately $32,000. Finally, Simplex Trading LLC bought a new stake in City in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 72.43% of the company's stock.
About City
(
Get Free Report)
City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.
The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.
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