City Holding Co. Has $31.88 Million Stock Holdings in City Holding Company $CHCO

Key Points

• City Holding Co. reduced its City Holding Company (CHCO) stake by 4.3% in the second quarter, selling 10,843 shares. It still held 240,368 shares worth approximately $31.88 million, representing 1.7% of CHCO.
• CHCO reported quarterly earnings of $2.35 per share, beating estimates of $2.23, while revenue reached $81.52 million. The company also declared a quarterly dividend of $0.87 per share, equivalent to a 2.4% annual yield.
• Shares opened at $145, near their 52-week high of $147.57, while analysts maintained a consensus “Hold” rating with an average price target of $136.50. Recent insider activity was net negative, with executives selling substantially more shares than they purchased.

City Holding Co. lowered its position in shares of City Holding Company (NASDAQ:CHCO - Free Report) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,368 shares of the bank's stock after selling 10,843 shares during the quarter. City comprises 3.6% of City Holding Co.'s portfolio, making the stock its 2nd largest position. City Holding Co. owned approximately 1.70% of City worth $31,882,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in shares of City in the 4th quarter valued at approximately $29,000. First Horizon Corp lifted its stake in City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank's stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Quarry LP acquired a new position in City in the third quarter worth $32,000. Simplex Trading LLC acquired a new position in City in the fourth quarter worth $36,000. Finally, Geneos Wealth Management Inc. increased its stake in City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock valued at $46,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 72.43% of the company's stock.

Insider Activity

In related news, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the completion of the transaction, the chief financial officer directly owned 10,666 shares of the company's stock, valued at $1,327,917. This represents a 9.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the firm'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 sale, the executive vice president owned 7,656 shares in the company, valued at approximately $957,000. This represents a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 444 shares of company stock valued at $59,740 and have sold 9,618 shares valued at $1,289,673. Corporate insiders own 1.75% of the company's stock.

City Stock Up 0.0%

CHCO stock opened at $145.00 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $147.57. The firm's 50-day simple moving average is $134.58 and its 200 day simple moving average is $127.06. The stock has a market cap of $2.04 billion, a PE ratio of 15.86 and a beta of 0.48.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.34%. As a group, sell-side analysts predict that City Holding Company will post 9.29 EPS for the current year.

City Dividend Announcement

The firm 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. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. City's payout ratio is 38.07%.

Wall Street Analysts Forecast Growth

CHCO has been the topic of a number of research reports. Weiss Ratings cut shares of City from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday. Hovde Group boosted their price objective on shares of City from $135.00 to $143.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $136.50.

City Company Profile

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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