David L. Bumgarner Sells 556 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO - Get Free Report) CFO David L. Bumgarner sold 556 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the sale, the chief financial officer now directly owns 9,395 shares of the company's stock, valued at approximately $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

City Trading Up 0.6 %

Shares of CHCO stock traded up $0.76 on Thursday, hitting $120.31. The stock had a trading volume of 31,964 shares, compared to its average volume of 59,460. The firm has a market cap of $1.77 billion, a P/E ratio of 15.25 and a beta of 0.51. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $122.04 and a two-hundred day moving average price of $120.29.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. As a group, analysts forecast that City Holding will post 7.53 earnings per share for the current fiscal year.

City Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Wednesday, January 15th. City's payout ratio is 40.05%.

Hedge Funds Weigh In On City

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in City by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock valued at $65,253,000 after purchasing an additional 22,226 shares in the last quarter. Barclays PLC raised its holdings in City by 125.3% during the third quarter. Barclays PLC now owns 28,845 shares of the bank's stock worth $3,385,000 after acquiring an additional 16,044 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new position in City during the third quarter valued at approximately $1,449,000. Jane Street Group LLC grew its stake in City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank's stock valued at $2,937,000 after purchasing an additional 9,999 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of City by 137.5% during the 2nd 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. 72.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CHCO shares. Keefe, Bruyette & Woods raised their target price on City from $120.00 to $130.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Piper Sandler reduced their target price on shares of City from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th.

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.