Insider Selling: City Holding (NASDAQ:CHCO) CFO Sells 170 Shares of Stock

City Holding (NASDAQ:CHCO - Get Free Report) CFO David L. Bumgarner sold 170 shares of City stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $119.00, for a total transaction of $20,230.00. Following the completion of the transaction, the chief financial officer now directly owns 11,694 shares in the company, valued at $1,391,586. This represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

City Trading Up 0.7 %

City stock traded up $0.85 during midday trading on Thursday, reaching $115.68. The stock had a trading volume of 67,679 shares, compared to its average volume of 54,693. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 14.66 and a beta of 0.48. The firm's fifty day simple moving average is $118.46 and its two-hundred day simple moving average is $120.56.

City (NASDAQ:CHCO - Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. Equities analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.

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Hedge Funds Weigh In On City

Institutional investors and hedge funds have recently bought and sold shares of the business. Guggenheim Capital LLC lifted its position in shares of City by 1.3% in the fourth quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank's stock worth $1,047,000 after purchasing an additional 114 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock worth $162,000 after buying an additional 131 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of City by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank's stock valued at $1,018,000 after buying an additional 137 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of City by 10.8% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank's stock valued at $170,000 after acquiring an additional 140 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of City by 4.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank's stock worth $524,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on City from $120.00 to $130.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler decreased their price target on City from $135.00 to $125.00 and set a "neutral" rating for the company in a research report 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.