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 on Friday, November 15th. The stock was sold at an average price of $130.03, for a total transaction of $788,631.95. Following the completion of the transaction, the chief executive officer now directly owns 44,974 shares in the company, valued at $5,847,969.22. This trade represents a 11.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

City Stock Down 0.9 %

Shares of NASDAQ:CHCO traded down $1.20 on Monday, reaching $129.04. The company had a trading volume of 7,327 shares, compared to its average volume of 56,859. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.90 billion, a PE ratio of 16.50 and a beta of 0.46. City Holding has a 52-week low of $95.39 and a 52-week high of $136.51. The firm’s 50 day simple moving average is $119.35 and its 200-day simple moving average is $113.13.

City (NASDAQ:CHCO) last announced its earnings results on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, topping 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. As a group, analysts expect that City Holding will post 7.84 earnings per share for the current fiscal year.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.72. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.45%. City’s payout ratio is 40.56%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price objective on shares of City in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. grew its position 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 during the period. Dimensional Fund Advisors LP grew its stake in City by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank’s stock valued at $58,542,000 after acquiring an additional 10,740 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of City by 3.1% during the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its holdings in City by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank’s stock valued at $41,792,000 after acquiring an additional 1,065 shares during the period. Finally, Axxcess Wealth Management LLC increased its stake in City by 0.4% during the first 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. Hedge funds and other institutional investors own 72.43% of the company’s stock.

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.