Insider Selling: City Holding Company (CHCO) EVP Sells $514,325.35 in Stock
City Holding Company (NASDAQ:CHCO) EVP Craig G. Stilwell sold 7,931 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $64.85, for a total transaction of $514,325.35. Following the transaction, the executive vice president now directly owns 26,865 shares in the company, valued at $1,742,195.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
City Holding Company (NASDAQ:CHCO) opened at 65.18 on Thursday. The firm’s 50-day moving average is $67.12 and its 200 day moving average is $65.21. City Holding Company has a 52-week low of $42.98 and a 52-week high of $74.90. The firm has a market capitalization of $1.02 billion, a P/E ratio of 17.55 and a beta of 0.81.
City Holding Company (NASDAQ:CHCO) last issued its quarterly earnings results on Monday, April 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.18. City Holding Company had a net margin of 27.20% and a return on equity of 12.16%. The firm had revenue of $48.95 million for the quarter, compared to analyst estimates of $46.99 million. During the same period in the previous year, the business earned $0.78 EPS. Equities analysts anticipate that City Holding Company will post $3.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were paid a $0.44 dividend. This is a positive change from City Holding Company’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 2.70%. The ex-dividend date was Tuesday, April 11th. City Holding Company’s payout ratio is presently 49.71%.
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A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of City Holding Company by 43,960.3% in the first quarter. BlackRock Inc. now owns 1,906,489 shares of the bank’s stock valued at $122,929,000 after buying an additional 1,902,162 shares during the last quarter. Norges Bank acquired a new stake in shares of City Holding Company during the fourth quarter valued at about $12,519,000. BlackRock Fund Advisors raised its stake in shares of City Holding Company by 6.6% in the third quarter. BlackRock Fund Advisors now owns 1,008,871 shares of the bank’s stock valued at $50,736,000 after buying an additional 62,519 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of City Holding Company by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,412,228 shares of the bank’s stock valued at $91,061,000 after buying an additional 61,429 shares during the last quarter. Finally, State Street Corp raised its stake in shares of City Holding Company by 14.4% in the first quarter. State Street Corp now owns 489,105 shares of the bank’s stock valued at $31,536,000 after buying an additional 61,409 shares during the last quarter. Hedge funds and other institutional investors own 61.13% of the company’s stock.
Several equities analysts have commented on CHCO shares. Zacks Investment Research raised shares of City Holding Company from a “sell” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, February 21st. Keefe, Bruyette & Woods set a $65.00 target price on shares of City Holding Company and gave the stock a “hold” rating in a research report on Monday, April 10th. Finally, DA Davidson started coverage on shares of City Holding Company in a research report on Monday, March 6th. They set a “neutral” rating and a $68.00 target price on the stock.
About City Holding Company
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). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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