City Holding (NASDAQ:CHCO – Get Rating) Director Tracy W. Hylton II acquired 115 shares of City stock in a transaction that occurred on Monday, January 23rd. The shares were purchased at an average cost of $89.56 per share, with a total value of $10,299.40. Following the transaction, the director now owns 57,910 shares of the company’s stock, valued at approximately $5,186,419.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
City Stock Performance
Shares of NASDAQ CHCO traded down $0.15 during mid-day trading on Monday, reaching $89.37. 58,961 shares of the company traded hands, compared to its average volume of 71,647. The company’s fifty day moving average is $95.07 and its two-hundred day moving average is $91.20. City Holding has a fifty-two week low of $73.40 and a fifty-two week high of $103.00. The stock has a market cap of $1.33 billion, a PE ratio of 14.23 and a beta of 0.57.
City Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, January 12th. City’s payout ratio is 41.34%.
Wall Street Analysts Forecast Growth
Institutional Trading of City
Several large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in City by 10.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,818 shares of the bank’s stock worth $379,000 after acquiring an additional 454 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of City by 80.4% in the first quarter. Advisor Group Holdings Inc. now owns 655 shares of the bank’s stock worth $52,000 after purchasing an additional 292 shares during the period. Citigroup Inc. lifted its position in shares of City by 11.4% during the 1st quarter. Citigroup Inc. now owns 13,392 shares of the bank’s stock worth $1,054,000 after purchasing an additional 1,369 shares during the last quarter. Bank of Montreal Can boosted its stake in City by 201.2% during the 1st quarter. Bank of Montreal Can now owns 11,791 shares of the bank’s stock valued at $942,000 after purchasing an additional 7,876 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in City by 55.8% in the 1st quarter. MetLife Investment Management LLC now owns 7,410 shares of the bank’s stock valued at $583,000 after buying an additional 2,653 shares during the last quarter. 68.12% of the stock is owned by institutional investors.
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.
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