City Holding (NASDAQ:CHCO) Director Sells $237,860.72 in Stock

City Holding (NASDAQ:CHCO) Director C Dallas Kayser sold 1,784 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total transaction of $237,860.72. Following the sale, the director now directly owns 23,637 shares in the company, valued at approximately $3,151,521.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

City Stock Performance

Shares of NASDAQ:CHCO opened at $130.77 on Friday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 16.79 and a beta of 0.46. The firm’s 50 day simple moving average is $117.91 and its 200 day simple moving average is $112.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.80. City Holding has a fifty-two week low of $92.76 and a fifty-two week high of $135.83.

City (NASDAQ:CHCO) last announced its quarterly 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. The business had revenue of $98.40 million for the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. As a group, sell-side analysts forecast that City Holding will post 7.81 earnings per share for the current year.

City Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.79 per share. This is an increase from City’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Tuesday, October 15th. City’s dividend payout ratio (DPR) is 40.56%.

Analyst Ratings Changes

Separately, Piper Sandler restated a “neutral” rating and set a $135.00 target price on shares of City in a research report on Friday.

Institutional Trading of City

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after buying an additional 113 shares during the period. nVerses Capital LLC bought a new position in shares of City during the 3rd quarter worth approximately $59,000. Bessemer Group Inc. grew its stake in shares of City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after acquiring an additional 604 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of City during the 1st quarter worth approximately $180,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of City during the 3rd quarter worth approximately $199,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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.