City Holding Co (NASDAQ:CHCO) executive Michael T. Quinlan Jr. has recently sold company shares, signaling a notable transaction for the financial institution. Quinlan, who serves as the EVP of Retail Banking, parted with 800 shares at a price of $105.60 each, totaling $84,480.
This transaction took place on May 8, 2024, as reported in the latest filings. Following the sale, Quinlan's direct ownership in the company stands at 2,600 shares. Additionally, he has an indirect ownership through a 401(k) plan and trust, which includes 2,256.1561 shares of common stock.
Investors often monitor insider sales as they may provide insights into an executive's perspective on the company's current valuation or future prospects. In the case of City Holding Co, the transaction represents a straightforward sale without any reported equity swaps involved.
City Holding Co's stock, traded under the ticker CHCO, is part of the national commercial banks industry, a sector that investors closely watch for performance indicators and management transactions. The company's fiscal year-end is December 31, and it is incorporated in the state of West Virginia.
The recent SEC filing also included information about Quinlan's holdings in restricted stock units (RSUs). The RSUs represent rights to receive shares of common stock upon vesting. Quinlan has several tranches of RSUs scheduled to vest over the coming years, with different vesting dates ranging from February 2022 to February 2027.
It's important for investors to consider the broader context of such insider transactions within the company's performance and market conditions. While the sale of shares by an executive could have various motivations, it remains a piece of the puzzle that shareholders take into account when assessing their investments.
InvestingPro Insights
Amidst the recent insider sale by City Holding Co's (NASDAQ:CHCO) EVP of Retail Banking, Michael T. Quinlan Jr., investors may find comfort in some of the company's financial metrics and analyst sentiment. City Holding Co boasts a consistent track record when it comes to dividends, having raised them for 12 consecutive years, and has maintained dividend payments for a remarkable 23 years straight. This is a significant indicator of CHCO's commitment to shareholder returns and fiscal responsibility.
Moreover, City Holding Co's valuation looks appealing with a P/E ratio of 13.17, which is attractive when paired with its near-term earnings growth, suggesting that the stock could be undervalued. Analysts have taken a positive stance as well, with five analysts revising their earnings estimates upwards for the upcoming period, reflecting optimism about the company's profit potential.
InvestingPro Data further enriches our understanding of CHCO's financial health. The company's market capitalization stands at a solid $1.55 billion USD, and an adjusted P/E ratio for the last twelve months as of Q1 2024 is closely in line at 13.15. Revenue growth has also been healthy, with a 9.53% increase over the last twelve months as of Q1 2024, which is a positive sign for investors looking for growth in their investments.
For those interested in further insights and metrics, more InvestingPro Tips are available, which could provide additional context and analysis for City Holding Co. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and expert analysis. Visit https://www.investing.com/pro/CHCO for more information and to access a total of 7 additional InvestingPro Tips that could help inform your investment decisions.
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