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 that occurred on Friday, November 15th. The shares were sold at an average price of $130.03, for a total value of $788,631.95. Following the completion of the sale, the chief executive officer now owns 44,974 shares of the company’s stock, valued at $5,847,969.22. This trade represents a 11.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

City Trading Down 1.1 %

Shares of CHCO stock opened at $128.81 on Tuesday. The company has a 50-day moving average of $119.62 and a two-hundred day moving average of $113.30. The firm has a market cap of $1.89 billion, a PE ratio of 16.54 and a beta of 0.46. City Holding has a 1-year low of $95.39 and a 1-year high of $136.51. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The company had revenue of $98.40 million for the quarter, compared to analyst estimates of $73.90 million. On average, analysts predict that City Holding will post 7.84 EPS for the current year.

City Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.45%. This is a boost from City’s previous quarterly dividend of $0.72. The ex-dividend date 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 price objective on shares of City in a research report on Friday, November 8th.

Hedge Funds Weigh In On City

Institutional investors have recently bought and sold shares of the company. Westwood Holdings Group Inc. grew its holdings in shares of City by 5.5% in the first quarter. Westwood Holdings Group Inc. now owns 614,511 shares of the bank’s stock valued at $64,044,000 after purchasing an additional 32,069 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of City by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock worth $58,542,000 after acquiring an additional 10,740 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of City by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank’s stock valued at $62,044,000 after acquiring an additional 15,910 shares in the last quarter. Geode Capital Management LLC grew its stake in City by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank’s stock worth $41,792,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in City by 0.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 108,737 shares of the bank’s stock worth $11,333,000 after purchasing an additional 469 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.