City (NASDAQ:CHCO) Share Price Passes Above 50 Day Moving Average – What’s Next?

City Holding Company (NASDAQ:CHCO) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $124.86 and traded as high as $132.00. City shares last traded at $127.97, with a volume of 78,929 shares.

Analyst Ratings Changes

Several research analysts have commented on the company. Hovde Group raised their price objective on City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Weiss Ratings restated a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, City has an average rating of “Hold” and a consensus price target of $134.25.

City Price Performance

The stock has a fifty day moving average price of $124.86 and a 200-day moving average price of $123.27. The firm has a market capitalization of $1.81 billion, a PE ratio of 14.09 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The business had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. Sell-side analysts forecast that City Holding Company will post 8.99 EPS for the current fiscal year.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a $0.87 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.7%. City’s dividend payout ratio (DPR) is currently 38.33%.

City declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Jeffrey Dale Legge sold 1,309 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was 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 of the company’s stock, valued at $957,000. This trade represents a 14.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles R. Hageboeck sold 1,858 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $124.40, for a total value of $231,135.20. Following the completion of the sale, the chief executive officer directly owned 48,483 shares of the company’s stock, valued at $6,031,285.20. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders bought 455 shares of company stock worth $57,018 and sold 12,975 shares worth $1,622,853. 1.75% of the stock is currently owned by corporate insiders.

Institutional Trading of City

A number of institutional investors have recently made changes to their positions in CHCO. First Horizon Corp boosted its position in shares of City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of City in the 4th quarter worth $29,000. Quarry LP acquired a new stake in shares of City in the 3rd quarter worth $32,000. Simplex Trading LLC acquired a new stake in shares of City in the 4th quarter worth $36,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after purchasing an additional 198 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.