In a recent transaction, Jeffrey Dale Legge, the Executive Vice President, Chief Administrative Officer, and Chief Information Officer of City Holding Co (NASDAQ:CHCO), sold 2,500 shares of the company's common stock. The sale was executed at an average price of $105.02 per share, amounting to a total value of over $262,557.
This move comes as part of the executive's financial activities reported on May 2, 2024. Following the sale, Legge continues to hold a significant number of shares directly, with 7,194 shares remaining in his possession. Additionally, he has an indirect ownership through a 401(k) Plan and Trust, with 8,360.489 shares as reported at the end of the 2023 fiscal year.
Investors often monitor the buying and selling activities of company executives as these can provide insights into their perspective on the company's current valuation and future prospects. While the reasons behind Legge's sale have not been disclosed, such transactions are a routine part of personal financial management for many executives.
The stock sale by Legge is a non-derivative transaction, which means it involves the direct sale of common stock rather than through derivative securities such as options or warrants. City Holding Co, based in Charleston, West Virginia, operates within the national commercial banks sector and is known for providing various banking services across its branches.
The details of the transaction have been made public through a Form 4 filing with the Securities and Exchange Commission, which provides timely information on the stock trading activities of the company's insiders.
InvestingPro Insights
As City Holding Co (NASDAQ:CHCO) continues to navigate the financial sector, the recent insider sale by Executive Vice President Jeffrey Dale Legge might catch the eye of investors seeking to gauge the company's stock performance and future potential. According to InvestingPro data, City Holding Co currently boasts a market capitalization of approximately $1.55 billion, with a P/E ratio of 13.1 reflecting a valuation that appears reasonable relative to near-term earnings growth potential. The company's revenue growth over the last twelve months as of Q1 2024 stands at a solid 9.53%, suggesting a healthy expansion in its financial activities.
For investors considering the company's dividend reliability, an InvestingPro Tip highlights that City Holding Co has not only raised its dividend for 12 consecutive years but has also maintained dividend payments for an impressive 23 consecutive years. This indicates a strong commitment to returning value to shareholders consistently over time. Additionally, analysts have shown optimism about the company's prospects, with five analysts revising their earnings upward for the upcoming period, which could signal confidence in City Holding Co's financial outlook.
Those interested in deeper analysis and additional InvestingPro Tips can explore the company's metrics further on InvestingPro's platform, with 6 more tips available to help investors make informed decisions. To gain access to these insights, consider using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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