City Holding Company (NASDAQ:CHCO – Get Free Report) CEO Charles 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 transaction, the chief executive officer owned 48,483 shares in the company, valued at $6,031,285.20. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
City Trading Down 1.7%
Shares of NASDAQ:CHCO traded down $2.12 during midday trading on Monday, hitting $122.20. The company had a trading volume of 35,094 shares, compared to its average volume of 104,884. City Holding Company has a 12 month low of $113.21 and a 12 month high of $133.59. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 13.46 and a beta of 0.49. The firm has a fifty day simple moving average of $123.25 and a 200 day simple moving average of $122.76.
City (NASDAQ:CHCO – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.03. The business had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. On average, analysts predict that City Holding Company will post 8.99 EPS for the current year.
City Announces Dividend
City announced that its Board of Directors has approved a stock buyback program on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages recently commented on CHCO. Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a research note on Wednesday. Hovde Group raised their price objective on City from $133.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $134.25.
Read Our Latest Research Report on CHCO
Institutional Trading of City
Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of City by 5.6% in the first quarter. Royal Bank of Canada now owns 15,586 shares of the bank’s stock valued at $1,831,000 after acquiring an additional 821 shares during the last quarter. AQR Capital Management LLC increased its position in shares of City by 34.5% in the first quarter. AQR Capital Management LLC now owns 8,977 shares of the bank’s stock valued at $1,055,000 after acquiring an additional 2,305 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of City by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank’s stock valued at $1,014,000 after acquiring an additional 387 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of City in the first quarter valued at about $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of City by 7.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank’s stock valued at $4,497,000 after acquiring an additional 2,603 shares during 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.
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