City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $76.65, for a total value of $76,650.00. Following the completion of the sale, the chief financial officer now directly owns 8,936 shares of the company’s stock, valued at $684,944.40. The sale was disclosed in a legal filing with the SEC, which is available through this link.
CHCO traded up $1.37 during midday trading on Friday, reaching $77.18. 56,468 shares of the company were exchanged, compared to its average volume of 52,920. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average of $75.22. The company has a market cap of $1.26 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.78. City Holding has a one year low of $65.32 and a one year high of $83.27.
City (NASDAQ:CHCO) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The firm had revenue of $58.74 million during the quarter, compared to analyst estimates of $57.24 million. City had a return on equity of 14.52% and a net margin of 30.14%. On average, sell-side analysts forecast that City Holding will post 5.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, July 12th. City’s dividend payout ratio is currently 41.09%.
Institutional investors and hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can grew its stake in City by 5.4% in the 4th quarter. Great West Life Assurance Co. Can now owns 20,614 shares of the bank’s stock valued at $1,285,000 after acquiring an additional 1,058 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of City by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 730,022 shares of the bank’s stock worth $49,343,000 after acquiring an additional 10,985 shares during the period. Geode Capital Management LLC raised its holdings in City by 14.7% in the fourth quarter. Geode Capital Management LLC now owns 195,596 shares of the bank’s stock valued at $13,220,000 after buying an additional 25,079 shares during the period. American International Group Inc. raised its holdings in City by 4.7% in the fourth quarter. American International Group Inc. now owns 12,396 shares of the bank’s stock valued at $838,000 after buying an additional 555 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in City by 10.0% in the fourth quarter. Principal Financial Group Inc. now owns 143,394 shares of the bank’s stock valued at $9,692,000 after buying an additional 12,992 shares during the period. 67.74% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Boenning Scattergood reaffirmed an “outperform” rating and issued a $47.75 target price on shares of WSFS Financial in a research report on Thursday, June 20th. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. BidaskClub raised Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Finally, Hovde Group assumed coverage on City in a research report on Monday, June 3rd. They issued a “market perform” rating and a $76.00 target price for the company. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $79.50.
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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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