City (NASDAQ:CHCO) Sees Large Volume Increase – Here’s Why

City Holding Company (NASDAQ:CHCO) saw an uptick in trading volume on Monday . Approximately 71,500 shares traded hands during trading, a decline of 36% from the previous session’s volume of 111,032 shares.The stock last traded at $132.12 and had previously closed at $134.02.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CHCO. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th. Hovde Group raised their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $134.25.

City Trading Down 2.4%

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.85 billion, a PE ratio of 14.40 and a beta of 0.49. The business has a fifty day moving average price of $125.56 and a 200 day moving average price of $123.73.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.03. The firm had revenue of $79.25 million during the quarter, compared to analysts’ expectations of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. Analysts forecast that City Holding Company will post 8.99 EPS for the current year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. City’s payout ratio is currently 38.33%.

City announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 25th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at City

In related news, CEO Charles R. Hageboeck sold 5,855 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total value of $733,631.50. Following the completion of the sale, the chief executive officer directly owned 50,341 shares of the company’s stock, valued at $6,307,727.30. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the completion of the transaction, the executive vice president owned 3,314 shares of the company’s stock, valued at $417,862.26. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 455 shares of company stock worth $57,018 and have sold 12,975 shares worth $1,622,853. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of City

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake in City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank’s stock worth $78,247,000 after buying an additional 6,371 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in City by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock valued at $70,740,000 after buying an additional 6,552 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in City by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock valued at $56,217,000 after buying an additional 8,992 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of City by 0.6% in the fourth quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock valued at $25,443,000 after acquiring an additional 1,354 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in shares of City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock valued at $15,335,000 after acquiring an additional 71,436 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.