City Holding (NASDAQ:CHCO) CEO Charles R. Hageboeck Sells 6,065 Shares

City Holding (NASDAQ:CHCO - Get Free Report) CEO Charles R. Hageboeck sold 6,065 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $130.03, for a total value of $788,631.95. Following the completion of the transaction, the chief executive officer now directly owns 44,974 shares of the company's stock, valued at $5,847,969.22. The trade was a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

City Price Performance

CHCO stock traded down $1.43 during midday trading on Monday, reaching $128.81. The company had a trading volume of 32,279 shares, compared to its average volume of 56,977. The firm has a 50-day moving average price of $119.62 and a 200-day moving average price of $113.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $1.89 billion, a P/E ratio of 16.54 and a beta of 0.46. City Holding has a 1 year low of $95.39 and a 1 year high of $136.51.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.10. The firm had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. On average, research analysts anticipate that City Holding will post 7.84 earnings per share for the current fiscal year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.45%. This is a boost from City's previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, October 15th. City's payout ratio is presently 40.56%.

Institutional Investors Weigh In On City

Several hedge funds have recently made changes to their positions in the company. Leeward Investments LLC MA grew its position in City by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank's stock valued at $9,452,000 after purchasing an additional 4,725 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new stake in shares of City during the second quarter valued at approximately $483,000. Zhang Financial LLC bought a new stake in shares of City in the second quarter worth approximately $401,000. Squarepoint Ops LLC boosted its position in City by 137.5% in the second quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank's stock worth $1,158,000 after purchasing an additional 6,312 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of City by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,944 shares of the bank's stock valued at $1,141,000 after buying an additional 423 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler reissued a "neutral" rating and issued a $135.00 price target on shares of City in a report on Friday, November 8th.

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.