Insider Selling: City Holding Co. (CHCO) CEO Sells $289,802.37 in Stock
City Holding Co. (NASDAQ:CHCO) CEO Charles R. Hageboeck sold 4,713 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $61.49, for a total value of $289,802.37. Following the transaction, the chief executive officer now directly owns 75,133 shares in the company, valued at approximately $4,619,928.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
City Holding Co. (NASDAQ:CHCO) opened at 59.61 on Thursday. City Holding Co. has a 1-year low of $40.74 and a 1-year high of $62.38. The stock has a 50 day moving average price of $51.86 and a 200-day moving average price of $49.06. The firm has a market cap of $894.57 million, a P/E ratio of 17.74 and a beta of 0.75.
City Holding (NASDAQ:CHCO) last issued its quarterly earnings results on Monday, October 24th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. City Holding had a return on equity of 11.96% and a net margin of 26.90%. During the same period last year, the business posted $0.69 EPS. Equities research analysts forecast that City Holding Co. will post $3.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 14th were paid a $0.43 dividend. The ex-dividend date was Wednesday, October 12th. This represents a $1.72 annualized dividend and a dividend yield of 2.89%. City Holding’s payout ratio is 51.04%.
Several institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of City Holding during the third quarter valued at about $8,117,000. Macquarie Group Ltd. raised its position in shares of City Holding by 27.9% in the second quarter. Macquarie Group Ltd. now owns 437,419 shares of the company’s stock valued at $19,889,000 after buying an additional 95,319 shares during the last quarter. City Holding Co. raised its position in shares of City Holding by 22.8% in the second quarter. City Holding Co. now owns 495,116 shares of the company’s stock valued at $22,513,000 after buying an additional 91,801 shares during the last quarter. Vanguard Group Inc. raised its position in shares of City Holding by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,272,559 shares of the company’s stock valued at $57,863,000 after buying an additional 65,070 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of City Holding by 6.6% in the third quarter. BlackRock Fund Advisors now owns 1,008,871 shares of the company’s stock valued at $50,736,000 after buying an additional 62,519 shares during the last quarter. Institutional investors own 60.50% of the company’s stock.
Separately, Zacks Investment Research raised City Holding from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th.
About City Holding
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). City National provides banking, trust and investment management and other financial solutions through its network of approximately 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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