City Holding (NASDAQ:CHCO) CFO David L. Bumgarner Sells 556 Shares

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 556 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the transaction, the chief financial officer now directly owns 9,395 shares in the company, valued at $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

City Trading Down 1.3 %

NASDAQ CHCO opened at $116.65 on Tuesday. City Holding has a one year low of $97.50 and a one year high of $137.28. The firm has a market cap of $1.71 billion, a PE ratio of 14.78 and a beta of 0.51. The firm’s fifty day moving average is $122.54 and its two-hundred day moving average is $120.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. Analysts expect that City Holding will post 7.53 earnings per share for the current year.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a $0.79 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $3.16 annualized dividend and a yield of 2.71%. City’s dividend payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CHCO shares. Keefe, Bruyette & Woods raised their price objective on City from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler dropped their price target on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th.

Institutional Trading of City

Several hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its position in City by 125.3% in the third quarter. Barclays PLC now owns 28,845 shares of the bank’s stock valued at $3,385,000 after purchasing an additional 16,044 shares during the period. Franklin Resources Inc. boosted its stake in shares of City by 4.5% in the third quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after buying an additional 404 shares in the last quarter. Jane Street Group LLC grew its holdings in City by 66.6% during the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock worth $2,937,000 after acquiring an additional 9,999 shares during the period. Charles Schwab Investment Management Inc. raised its position in City by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock worth $62,044,000 after acquiring an additional 15,910 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in City by 0.3% in the third quarter. Geode Capital Management LLC now owns 355,940 shares of the bank’s stock valued at $41,792,000 after acquiring an additional 1,065 shares during the period. Institutional investors and hedge funds 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.