Insider Selling: City (NASDAQ:CHCO) CFO Sells 1,161 Shares of Stock

City Holding Company (NASDAQ:CHCO) CFO David Bumgarner sold 1,161 shares of City stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the sale, the chief financial officer owned 10,666 shares in the company, valued at $1,327,917. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

City Stock Up 0.1%

CHCO stock traded up $0.17 during midday trading on Tuesday, hitting $124.81. The company’s stock had a trading volume of 55,162 shares, compared to its average volume of 105,318. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. City Holding Company has a twelve month low of $113.21 and a twelve month high of $133.59. The company’s fifty day moving average price is $122.70 and its 200 day moving average price is $122.63. The stock has a market capitalization of $1.76 billion, a P/E ratio of 13.75 and a beta of 0.50.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.03. The company had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. As a group, equities research analysts predict that City Holding Company will post 8.99 EPS for the current year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were paid a dividend of $0.87 per share. The ex-dividend date was Wednesday, April 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. City’s payout ratio is currently 38.33%.

City declared that its board has authorized a stock repurchase program on Wednesday, March 25th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Hovde Group boosted their price objective on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, City currently has an average rating of “Hold” and an average price target of $134.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of City by 11.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after purchasing an additional 22,536 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of City by 14.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock worth $6,999,000 after purchasing an additional 7,081 shares in the last quarter. Tudor Investment Corp ET AL grew its position in shares of City by 63.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after purchasing an additional 29,828 shares in the last quarter. MQS Management LLC acquired a new position in shares of City during the 3rd quarter worth approximately $521,000. Finally, Rafferty Asset Management LLC grew its position in shares of City by 86.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock worth $2,354,000 after purchasing an additional 8,795 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

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.