City Holding (NASDAQ:CHCO) CFO Sells $154,696.80 in Stock

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 1,499 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $103.20, for a total transaction of $154,696.80. Following the completion of the transaction, the chief financial officer now owns 9,951 shares in the company, valued at $1,026,943.20. The sale was disclosed in a filing with the SEC, which is available through this link.

City Stock Up 1.0 %

Shares of NASDAQ CHCO traded up $1.02 during midday trading on Thursday, reaching $105.00. 12,804 shares of the company’s stock traded hands, compared to its average volume of 61,084. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $101.86 and its 200-day simple moving average is $101.48. City Holding has a one year low of $82.53 and a one year high of $115.89. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 13.08 and a beta of 0.50.

City Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $0.715 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $2.86 annualized dividend and a yield of 2.72%. City’s dividend payout ratio (DPR) is 35.97%.

Analysts Set New Price Targets

A number of brokerages have commented on CHCO. Piper Sandler upped their target price on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Stephens dropped their target price on shares of City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $110.00 target price (up from $100.00) on shares of City in a research note on Thursday, April 25th. Finally, Hovde Group increased their price objective on shares of City from $110.00 to $113.00 and gave the company a “market perform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.75.

Institutional Investors Weigh In On City

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in City by 48.5% in the first quarter. BNP Paribas Financial Markets now owns 7,260 shares of the bank’s stock valued at $757,000 after acquiring an additional 2,370 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of City in the first quarter worth $1,133,000. Principal Financial Group Inc. raised its holdings in shares of City by 1.2% in the first quarter. Principal Financial Group Inc. now owns 83,542 shares of the bank’s stock worth $8,707,000 after buying an additional 999 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its holdings in shares of City by 215.1% in the first quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank’s stock worth $1,682,000 after buying an additional 11,019 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of City in the fourth quarter worth $599,000. 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.