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

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

City Trading Up 12.9 %

The company has a market cap of $1.96 billion, a PE ratio of 15.18 and a beta of 0.46. The business has a 50 day simple moving average of $117.14 and a two-hundred day simple moving average 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.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping 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 company had revenue of $98.40 million for the quarter, compared to analyst estimates of $73.90 million. On average, analysts forecast that City Holding will post 7.78 EPS for the current fiscal year.

City Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $0.79 dividend. This is a positive change from City’s previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, October 15th. City’s dividend payout ratio (DPR) is 40.56%.

Insider Buying and Selling

In related news, Director James L. Rossi sold 1,000 shares of the stock in a transaction 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 transaction, the director now directly owns 18,233 shares of the company’s stock, valued at approximately $2,096,795. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 2,000 shares in the company, valued at $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Rossi sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $115.00, for a total value of $115,000.00. Following the sale, the director now owns 18,233 shares of the company’s stock, valued at $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.39% of the company’s stock.

Institutional Trading of City

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in City by 95.8% in the second quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock worth $25,000 after purchasing an additional 113 shares in the last quarter. nVerses Capital LLC acquired a new position in City in the third quarter worth about $59,000. Bessemer Group Inc. grew its stake in City by 90.7% in the first quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock worth $132,000 after purchasing an additional 604 shares in the last quarter. SG Americas Securities LLC acquired a new position in City in the first quarter valued at approximately $180,000. Finally, Crossmark Global Holdings Inc. acquired a new position in City in the third quarter valued at approximately $199,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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.