James L. Rossi Sells 1,000 Shares of City Holding (NASDAQ:CHCO)

VaselineAugust 22, 2024

0 3 minutes read

City Holding (NASDAQ:CHCO – Get Your Free Report) Director James L. Rossi sold 1,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the transaction, the director now owns 18,233 shares in the company, valued at approximately $2,096,795. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink.

City Stock 0.8%

CHCO stock opened at $114.75 on Thursday. The company’s 50-day simple moving average is $111.52, and its 200-day simple moving average is $105.50. The company has a quick ratio of 0.82, a current ratio of 0.80, and a debt-to-equity ratio of 0.22. The company has a market cap of $1.69 billion, a PE ratio of 14.43 and a beta of 0.48. City Holding has a 12-month low of $86.56 and a 12-month high of $125.54.

City (NASDAQ:CHCO – Get Free Report ) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. The business had revenue of $94.90 million for the quarter, compared to analysts’ expectations of $73.20 million. City had a return on equity of 17.42% and a net margin of 32.12%. On average, research analysts anticipate that City Holding will post 7.71 earnings per share for the current year.

The city announces dividends

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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were paid a $0.715 dividend. The ex-dividend date was Monday, July 15. This represents an annualized dividend of $2.86 and a dividend yield of 2.49%. City’s dividend payout ratio is currently 35.97%.

Institutional inputs and outputs

Several hedge funds have recently bought and sold shares of the stock. Leeward Investments LLC MA boosted its holdings in shares of 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 acquiring an additional 4,725 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of City in the first quarter worth $1,133,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of City in the fourth quarter valued at $1,047,000. QRG Capital Management Inc. boosted its holdings in shares of City by 21.4% in the fourth quarter. QRG Capital Management Inc. now owns 3,908 shares of the bank’s stock valued at $431,000 after purchasing an additional 688 shares during the last quarter. Finally, Zhang Financial LLC purchased a new position in City during the second quarter valued at about $401,000. 72.43% of the shares are currently owned by institutional investors and hedge funds.

Changes in Analyst Ratings

CHCO has been the subject of several analyst reports. Hovde Group upped their target price on shares of City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research report on Thursday, May 2nd. Stephens cut their price target on City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $110.00 price objective (up from $100.00) on shares of City in a note research on Thursday, April 25. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $106.75, based on data from MarketBeat.

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About the city

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City Holding Company operates as a holding company for City National Bank of West Virginia, which provides various banking, trust and investment services 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.