City Holding (NASDAQ:CHCO) EVP John A. Derito sold 2,500 shares of City stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $72.00, for a total value of $180,000.00. Following the transaction, the executive vice president now directly owns 20,343 shares in the company, valued at approximately $1,464,696. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NASDAQ CHCO opened at $72.18 on Wednesday. The company has a market capitalization of $1,118.84, a P/E ratio of 17.72, a PEG ratio of 1.95 and a beta of 0.74. City Holding has a 52 week low of $58.80 and a 52 week high of $75.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.91.
City (NASDAQ:CHCO) last announced its quarterly earnings results on Thursday, April 19th. The bank reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. The business had revenue of $47.14 million during the quarter, compared to analysts’ expectations of $46.99 million. City had a return on equity of 12.66% and a net margin of 27.09%. equities analysts forecast that City Holding will post 4.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Friday, April 13th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, April 12th. This represents a $1.84 annualized dividend and a dividend yield of 2.55%. City’s payout ratio is 46.70%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB acquired a new stake in City in the 4th quarter worth approximately $213,000. MetLife Investment Advisors LLC acquired a new stake in City in the 4th quarter worth approximately $489,000. Macquarie Group Ltd. lifted its holdings in City by 0.4% in the 4th quarter. Macquarie Group Ltd. now owns 342,678 shares of the bank’s stock worth $23,120,000 after purchasing an additional 1,250 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in City by 17.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 51,593 shares of the bank’s stock worth $3,481,000 after purchasing an additional 7,804 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in City by 3.0% in the 4th quarter. Guggenheim Capital LLC now owns 127,139 shares of the bank’s stock worth $8,578,000 after purchasing an additional 3,734 shares during the last quarter. 66.33% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. BidaskClub cut City from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Wednesday, April 4th. Boenning Scattergood reissued a “hold” rating on shares of City in a research note on Wednesday, January 24th. Finally, Sandler O’Neill set a $72.00 price target on City and gave the company a “hold” rating in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $74.50.
City Company Profile
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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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