City (NASDAQ:CHCO) Sees Unusually-High Trading Volume - Here's Why

Key Points

• City Holding’s shares traded about 51,421 shares, down 55% from the prior session, while the stock slipped 0.2% to $142.575. Its market capitalization is approximately $2.01 billion.
• Analysts maintain a generally cautious outlook, with one Buy rating and three Holds; the consensus rating is Hold with an average price target of $136.50. Hovde Group raised its target to $143 while retaining a Market Perform rating.
• City exceeded quarterly expectations, reporting $2.35 EPS versus a $2.23 estimate and revenue of $81.52 million. Institutional investors own 72.43% of the stock, while recent insider activity included sales by the CEO and a director.

Shares of City Holding Company (NASDAQ:CHCO - Get Free Report) saw strong trading volume on Monday . Approximately 51,421 shares were traded during trading, a decline of 55% from the previous session's volume of 114,548 shares.The stock last traded at $142.5750 and had previously closed at $143.46.

Wall Street Analyst Weigh In

Several research firms have commented on CHCO. Hovde Group upped their price objective on shares of City from $135.00 to $143.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of City from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, August 24th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $136.50.

City Trading Down 0.2%

The firm's 50 day moving average is $139.62 and its 200 day moving average is $129.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $2.01 billion, a PE ratio of 15.66 and a beta of 0.48.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The business 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, equities analysts anticipate that City Holding Company will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Charles R. Hageboeck sold 4,485 shares of City stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the completion of the sale, the chief executive officer owned 43,998 shares of the company's stock, valued at approximately $6,377,950.08. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sharon H. Rowe sold 400 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $143.96, for a total value of $57,584.00. Following the transaction, the director owned 10,576 shares of the company's stock, valued at approximately $1,522,520.96. The trade was a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders purchased 444 shares of company stock worth $59,740 in the last quarter. 1.75% of the stock is currently owned by company insiders.

Institutional Trading of City

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in City by 16,985.5% in the second quarter. California State Teachers Retirement System now owns 2,293,213 shares of the bank's stock valued at $304,172,000 after acquiring an additional 2,279,791 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of City by 8.9% in the 2nd quarter. HB Wealth Management LLC now owns 2,364 shares of the bank's stock worth $314,000 after purchasing an additional 194 shares in the last quarter. Nykredit A S bought a new position in shares of City during the 2nd quarter valued at about $133,000. SkyOak Wealth LLC purchased a new position in shares of City during the 2nd quarter valued at about $250,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in City in the 2nd quarter worth approximately $985,000. 72.43% of the stock is owned by institutional investors.

About City

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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