City (NASDAQ:CHCO) Shares Cross Below Fifty Day Moving Average - Time to Sell?

Key Points

• City Holding Company's stock price dropped below its fifty day moving average of $125.43, closing at $124.07, signaling potential caution for investors.
• Analysts have varied opinions on City shares, with Wall Street Zen downgrading its rating to "sell” while others, like DA Davidson, have increased their price targets.
• Insider activity shows notable selling, with executives Jeffrey Dale Legge and Michael T. Quinlan, Jr. reducing their holdings by 26.21% and 35.34% respectively, which could be interpreted as a bearish signal.

City Holding Company (NASDAQ:CHCO - Get Free Report)'s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $125.43 and traded as low as $123.29. City shares last traded at $124.07, with a volume of 62,495 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on CHCO shares. DA Davidson lifted their price target on City from $128.00 to $137.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lifted their price target on City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered City from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Hovde Group boosted their price objective on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, City presently has a consensus rating of "Hold" and an average target price of $133.25.

City Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.80 billion, a PE ratio of 14.93 and a beta of 0.57. The company has a fifty day moving average of $125.43 and a 200-day moving average of $120.76.

City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The bank reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.32. The firm had revenue of $78.16 million for the quarter, compared to the consensus estimate of $76.10 million. City had a return on equity of 16.30% and a net margin of 31.35%. Sell-side analysts expect that City Holding Company will post 7.58 EPS for the current fiscal year.

Insider Buying and Selling at City

In other City news, EVP Jeffrey Dale Legge sold 2,500 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.06, for a total transaction of $327,650.00. Following the sale, the executive vice president owned 7,037 shares in the company, valued at $922,269.22. This represents a 26.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.12, for a total value of $131,120.00. Following the sale, the executive vice president owned 1,830 shares in the company, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 305 shares of company stock worth $38,750 in the last quarter. Company insiders own 1.87% of the company's stock.

Institutional Investors Weigh In On City

Several large investors have recently bought and sold shares of CHCO. Westwood Holdings Group Inc. increased its holdings in City by 24.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock worth $74,192,000 after purchasing an additional 123,394 shares during the period. Nuveen LLC purchased a new stake in City during the 1st quarter worth about $4,883,000. GAMMA Investing LLC increased its holdings in City by 13,747.8% during the 1st quarter. GAMMA Investing LLC now owns 37,943 shares of the bank's stock worth $4,457,000 after purchasing an additional 37,669 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in City by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock worth $68,139,000 after purchasing an additional 29,302 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in City during the 2nd quarter worth about $2,249,000. Hedge funds and other institutional investors own 72.43% of the company's stock.

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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