City Holding (NASDAQ:CHCO) Sees Significant Growth in Short Interest

City Holding (NASDAQ:CHCO - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 956,600 shares, an increase of 5.7% from the November 30th total of 905,300 shares. Based on an average daily trading volume, of 53,500 shares, the short-interest ratio is presently 17.9 days. Approximately 6.7% of the shares of the company are short sold.

Insider Buying and Selling

In related news, CEO Charles R. Hageboeck sold 6,065 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the sale, the chief executive officer now owns 44,974 shares in the company, valued at $5,847,969.22. This represents a 11.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director C Dallas Kayser sold 1,784 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total value of $237,860.72. Following the transaction, the director now owns 23,637 shares of the company's stock, valued at approximately $3,151,521.21. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,092 shares of company stock valued at $1,196,697. Company insiders own 2.39% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of City by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank's stock worth $58,542,000 after purchasing an additional 10,740 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in City by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank's stock worth $62,044,000 after buying an additional 15,910 shares during the last quarter. Geode Capital Management LLC grew its stake in City by 0.3% during the third quarter. Geode Capital Management LLC now owns 355,940 shares of the bank's stock worth $41,792,000 after buying an additional 1,065 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of City by 6.0% during the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank's stock worth $9,349,000 after buying an additional 4,989 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of City by 7.1% in the second quarter. Public Sector Pension Investment Board now owns 32,497 shares of the bank's stock valued at $3,453,000 after acquiring an additional 2,160 shares during the last quarter. 72.43% of the stock is owned by institutional investors.

City Price Performance

Shares of CHCO stock traded down $2.16 during mid-day trading on Wednesday, reaching $118.48. The company's stock had a trading volume of 69,661 shares, compared to its average volume of 57,276. The firm's 50-day moving average is $125.98 and its two-hundred day moving average is $118.59. The company has a market cap of $1.74 billion, a P/E ratio of 15.21 and a beta of 0.49. City has a 1-year low of $97.50 and a 1-year high of $137.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82.

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

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, January 15th. City's dividend payout ratio (DPR) is 40.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler restated a "neutral" rating and set a $135.00 price objective on shares of City in a report on Friday, November 8th. Keefe, Bruyette & Woods upped their price target on City from $120.00 to $130.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th.

City Company Profile

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.