City (NASDAQ:CHCO) EVP Jeffrey Dale Legge Sells 512 Shares of Company Stock

City Holding Company (NASDAQ:CHCO) EVP Jeffrey Legge sold 512 shares of City stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $145.30, for a total value of $74,393.60. Following the completion of the sale, the executive vice president owned 7,656 shares in the company, valued at approximately $1,112,416.80. This represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

City Trading Down 1.2%

Shares of City stock traded down $1.80 during midday trading on Thursday, reaching $142.74. 57,922 shares of the company’s stock traded hands, compared to its average volume of 116,899. The stock has a 50 day moving average of $142.27 and a 200-day moving average of $131.84. City Holding Company has a 12 month low of $113.21 and a 12 month high of $148.99. The company has a market cap of $2.00 billion, a PE ratio of 15.55 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Monday, October 26th. The bank reported $2.43 EPS for the quarter, topping the consensus estimate of $2.36 by $0.07. City had a net margin of 32.31% and a return on equity of 16.22%. The business had revenue of $84.04 million during the quarter, compared to analyst estimates of $83.07 million. As a group, equities analysts expect that City Holding Company will post 9.36 EPS for the current fiscal year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, October 15th. This is a positive change from City’s previous quarterly dividend of $0.87. City’s payout ratio is presently 43.67%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CHCO. Hovde Group raised their target price on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings raised City from a “buy (a-)” rating to a “buy (a)” rating in a research note on Friday, October 16th. Finally, Keefe, Bruyette & Woods increased their price objective on City from $145.00 to $147.00 and gave the stock a “hold” rating in a report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.00.

Institutional Trading of City

Several hedge funds and other institutional investors have recently made changes to their positions in CHCO. Allworth Financial LP bought a new stake in shares of City in the second quarter worth $27,000. Archer Investment Corp bought a new position in City in the second quarter valued at about $49,000. Sterling Capital Management LLC boosted its position in City by 223.6% in the third quarter. Sterling Capital Management LLC now owns 398 shares of the bank’s stock worth $55,000 after purchasing an additional 275 shares during the last quarter. Global Retirement Partners LLC purchased a new position in City in the second quarter worth about $58,000. Finally, Nisa Investment Advisors LLC boosted its position in City by 18.8% in the third quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank’s stock worth $63,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

About City

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.