City (NASDAQ:CHCO) Hits New 1-Year High – Here’s What Happened

City Holding (NASDAQ:CHCO)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $129.00 and last traded at $129.00, with a volume of 407 shares changing hands. The stock had previously closed at $118.29.

City Price Performance

The company has a fifty day moving average price of $117.14 and a two-hundred day moving average price of $111.56. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.96 billion, a PE ratio of 15.18 and a beta of 0.46.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.92 by $0.10. The firm had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. Sell-side analysts forecast that City Holding will post 7.78 earnings per share for the current year.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.79 per share. The ex-dividend date was Tuesday, October 15th. This is an increase from City’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a yield of 2.37%. City’s dividend payout ratio is currently 40.56%.

Insider Buying and Selling at City

In other news, Director James L. Rossi sold 1,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the transaction, the director now directly owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $115.62, for a total transaction of $69,372.00. Following the completion of the transaction, the executive vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $231,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the sale, the director now owns 18,233 shares in the company, valued at approximately $2,096,795. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On City

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in City by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock valued at $1,018,000 after buying an additional 137 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in City during the 3rd quarter valued at $199,000. QRG Capital Management Inc. grew its holdings in City by 18.6% during the 3rd quarter. QRG Capital Management Inc. now owns 4,109 shares of the bank’s stock valued at $482,000 after buying an additional 644 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in City by 16.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,794 shares of the bank’s stock valued at $328,000 after buying an additional 400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in City by 11.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,002 shares of the bank’s stock valued at $1,051,000 after buying an additional 947 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

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.