City Holding (NASDAQ:CHCO) CEO Charles R. Hageboeck sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $80.27, for a total value of $642,160.00. Following the completion of the transaction, the chief executive officer now directly owns 62,157 shares in the company, valued at approximately $4,989,342.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
NASDAQ:CHCO opened at $79.31 on Thursday. City Holding has a 1-year low of $65.32 and a 1-year high of $83.27. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.93 and a beta of 0.76.
City (NASDAQ:CHCO) last released its earnings results on Wednesday, April 17th. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. City had a return on equity of 15.10% and a net margin of 31.16%. The firm had revenue of $55.99 million for the quarter, compared to analyst estimates of $55.33 million. Research analysts anticipate that City Holding will post 5.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, April 12th. City’s payout ratio is 41.09%.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in City by 6.3% in the fourth quarter. BlackRock Inc. now owns 2,359,912 shares of the bank’s stock valued at $159,507,000 after buying an additional 139,779 shares during the period. Vanguard Group Inc increased its holdings in shares of City by 2.4% in the third quarter. Vanguard Group Inc now owns 1,590,260 shares of the bank’s stock worth $122,133,000 after acquiring an additional 36,829 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of City by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,590,260 shares of the bank’s stock worth $122,133,000 after acquiring an additional 36,829 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of City by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 730,022 shares of the bank’s stock worth $49,343,000 after acquiring an additional 10,985 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of City by 16.8% in the fourth quarter. Macquarie Group Ltd. now owns 549,557 shares of the bank’s stock worth $37,145,000 after acquiring an additional 78,873 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on CHCO. BidaskClub raised City from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research lowered City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, Boenning Scattergood reissued a “hold” rating on shares of City in a research note on Thursday, January 24th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $80.00.
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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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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