City Holding Company (NASDAQ:CHCO – Get Free Report) EVP Jeffrey Legge sold 512 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $145.30, for a total transaction of $74,393.60. Following the completion of the transaction, the executive vice president owned 7,656 shares in the company, valued at approximately $1,112,416.80. The trade was a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
City Price Performance
Shares of City stock opened at $141.49 on Friday. 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 firm has a fifty day moving average price of $142.18 and a two-hundred day moving average price of $132.03. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $148.99. The company has a market cap of $1.99 billion, a PE ratio of 15.45 and a beta of 0.49.
City (NASDAQ:CHCO – Get Free Report) last announced its earnings results on Monday, October 26th. The bank reported $2.43 EPS for the quarter, topping the consensus estimate of $2.36 by $0.07. The firm had revenue of $84.04 million for the quarter, compared to the consensus estimate of $83.07 million. City had a net margin of 32.31% and a return on equity of 16.22%. Analysts expect that City Holding Company will post 9.37 EPS for the current year.
City Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were issued a dividend of $1.00 per share. This is an increase from City’s previous quarterly dividend of $0.87. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, October 15th. City’s payout ratio is presently 43.67%.
Analyst Ratings Changes
Several research firms have recently weighed in on CHCO. Weiss Ratings cut shares of City from a “buy (a)” rating to a “buy (a-)” rating in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of City from $145.00 to $147.00 and gave the company a “hold” rating in a report on Tuesday, October 27th. Finally, Hovde Group upped their target price on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.
Read Our Latest Stock Report on City
Institutional Investors Weigh In On City
Large investors have recently modified their holdings of the business. Allworth Financial LP acquired a new position in shares of City during the 2nd quarter worth approximately $27,000. Archer Investment Corp acquired a new stake in City in the 2nd quarter valued at $49,000. Sterling Capital Management LLC lifted its holdings in City by 223.6% during the 3rd quarter. Sterling Capital Management LLC now owns 398 shares of the bank’s stock worth $55,000 after buying an additional 275 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of City during the 2nd quarter worth about $58,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of City by 18.8% during the third quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank’s stock valued at $63,000 after buying an additional 72 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.
City Company Profile
City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.
City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.
The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.
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