Michael T. Quinlan, Jr. Sells 1,773 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) EVP Michael T. Quinlan, Jr. sold 1,773 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $104.74, for a total value of $185,704.02. Following the completion of the sale, the executive vice president now owns 3,400 shares of the company’s stock, valued at approximately $356,116. The sale was disclosed in a filing with the SEC, which is accessible through this link.

City Trading Down 0.7 %

NASDAQ CHCO traded down $0.70 during trading on Monday, hitting $103.41. The stock had a trading volume of 14,617 shares, compared to its average volume of 60,881. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 13.05 and a beta of 0.51. City Holding has a one year low of $82.53 and a one year high of $115.89. The stock has a 50 day simple moving average of $101.82 and a 200 day simple moving average of $101.31.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, April 12th. City’s payout ratio is currently 35.97%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler increased their price objective on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $110.00 price objective (up previously from $100.00) on shares of City in a report on Thursday. Finally, Stephens lowered their price target on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday.

Institutional Trading of City

Institutional investors have recently added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. increased its position in shares of City by 215.1% during the first quarter. McKinley Carter Wealth Services Inc. now owns 16,141 shares of the bank’s stock worth $1,682,000 after acquiring an additional 11,019 shares during the period. Virtu Financial LLC purchased a new position in shares of City during the fourth quarter worth approximately $599,000. Rafferty Asset Management LLC increased its position in shares of City by 73.8% during the fourth quarter. Rafferty Asset Management LLC now owns 15,505 shares of the bank’s stock worth $1,710,000 after acquiring an additional 6,583 shares during the period. Campbell & CO Investment Adviser LLC increased its position in shares of City by 74.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 4,761 shares of the bank’s stock worth $525,000 after acquiring an additional 2,032 shares during the period. Finally, Alpha DNA Investment Management LLC purchased a new position in City during the fourth quarter valued at approximately $531,000. Institutional investors 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.