David L. Bumgarner Sells 170 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) CFO David L. Bumgarner sold 170 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $119.00, for a total transaction of $20,230.00. Following the completion of the sale, the chief financial officer now owns 11,694 shares in the company, valued at approximately $1,391,586. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

City Stock Performance

City stock opened at $116.62 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $1.71 billion, a P/E ratio of 14.78 and a beta of 0.48. City Holding has a fifty-two week low of $97.50 and a fifty-two week high of $137.28. The firm’s 50 day simple moving average is $118.71 and its 200-day simple moving average is $120.58.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. As a group, equities research analysts predict that City Holding will post 7.58 EPS for the current year.

Hedge Funds Weigh In On City

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC raised its holdings in shares of City by 781.3% during the fourth quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock worth $50,000 after acquiring an additional 375 shares in the last quarter. Smartleaf Asset Management LLC increased its position in City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock worth $56,000 after purchasing an additional 405 shares during the last quarter. KBC Group NV raised its stake in shares of City by 60.3% during the 4th quarter. KBC Group NV now owns 843 shares of the bank’s stock worth $100,000 after purchasing an additional 317 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of City during the 3rd quarter valued at about $134,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock valued at $162,000 after buying an additional 131 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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