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

City Holding (NASDAQ:CHCO) CEO Charles R. Hageboeck sold 6,065 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $130.03, for a total transaction of $788,631.95. Following the transaction, 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.

City Stock Down 0.1 %

NASDAQ:CHCO opened at $128.65 on Wednesday. City Holding has a 1-year low of $95.39 and a 1-year high of $136.51. The company has a market capitalization of $1.89 billion, a PE ratio of 16.51 and a beta of 0.46. The firm’s 50-day moving average price is $119.89 and its 200-day moving average price is $113.47. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO) last announced its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating 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 business had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. On average, equities analysts predict that City Holding will post 7.84 EPS for the current fiscal year.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.79 per share. This is a boost from City’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.46%. City’s payout ratio is presently 40.56%.

Institutional Investors Weigh In On City

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after purchasing an additional 113 shares during the last quarter. nVerses Capital LLC purchased a new stake in City during the 3rd quarter valued at about $59,000. Bessemer Group Inc. increased its stake in City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after purchasing an additional 604 shares in the last quarter. Point72 DIFC Ltd purchased a new position in City in the third quarter worth about $134,000. Finally, SG Americas Securities LLC bought a new position in shares of City in the first quarter worth approximately $180,000. 72.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reiterated a “neutral” rating and set a $135.00 target price 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.