City Holding (NASDAQ:CHCO) CFO Sells $154,696.80 in Stock

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 1,499 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $103.20, for a total transaction of $154,696.80. Following the completion of the sale, the chief financial officer now owns 9,951 shares of the company’s stock, valued at approximately $1,026,943.20. The transaction was disclosed in a document filed with the SEC, which is available at this link.

City Stock Down 0.3 %

City stock opened at $104.47 on Friday. The company’s 50 day simple moving average is $101.95 and its 200 day simple moving average is $101.51. City Holding has a fifty-two week low of $82.53 and a fifty-two week high of $115.89. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 13.14 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, April 12th. City’s payout ratio is 35.97%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHCO. Stephens lowered their price objective on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $110.00 target price (up previously from $100.00) on shares of City in a research note on Thursday, April 25th. Hovde Group raised their target price on shares of City from $110.00 to $113.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Piper Sandler raised their target price on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $106.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in City during the 4th quarter worth approximately $38,000. Federated Hermes Inc. boosted its stake in City by 28.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock worth $103,000 after acquiring an additional 249 shares during the last quarter. Quantbot Technologies LP boosted its stake in City by 206.2% during the 3rd quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after acquiring an additional 1,330 shares during the last quarter. CIC Wealth LLC acquired a new stake in City during the 4th quarter worth approximately $210,000. Finally, Lido Advisors LLC acquired a new stake in City during the 3rd quarter worth approximately $237,000. Institutional investors own 72.43% of the company’s stock.

About City

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.