John A. Derito Sells 1,243 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) EVP John A. Derito sold 1,243 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the transaction, the executive vice president now owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

City Price Performance

Shares of CHCO opened at $132.12 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 16.96 and a beta of 0.46. The business’s 50-day moving average is $121.55 and its 200-day moving average is $114.48. City Holding has a fifty-two week low of $95.39 and a fifty-two week high of $137.28.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The firm had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $73.90 million. Equities research analysts expect that City Holding will post 7.84 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Wednesday, January 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.39%. City’s dividend payout ratio (DPR) is 40.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leeward Investments LLC MA boosted its holdings in City by 5.6% in the second quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank’s stock worth $9,452,000 after purchasing an additional 4,725 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of City in the second quarter worth about $483,000. Zhang Financial LLC bought a new stake in shares of City during the 2nd quarter worth about $401,000. Squarepoint Ops LLC increased its holdings in shares of City by 137.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank’s stock valued at $1,158,000 after acquiring an additional 6,312 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of City by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,944 shares of the bank’s stock valued at $1,141,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price objective on shares of City in a research note on Friday, November 8th.

About City

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.