# City Holding Company (CHCO)

> Source: Nexqual · https://nexqual.com/CHCO · data as of 2026-10-23 13:48 UTC · cite as "Nexqual, City Holding Company (CHCO), nexqual.com/CHCO" · informational, not investment advice.

**Price:** USD 142.45 (-0.67% today) · US market open, as of October 23, 2026 at 13:48 UTC; quotes may be delayed. Prev close 143.4 · day 142.45–144.54 · 52w 113.21–148.99 · market cap $2.00B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $322M, net income $132M (40.9% margin) (SEC filings).
- Valuation: P/E 15.2x (avg 14.2x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 10 Form 4 filings, $2.3M; 10 not under a Rule 10b5-1 plan ($2.3M); 9 by opportunistic insiders (9 outside 10b5-1 plans), 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 9 Form 4 filings, $130K; 0 by opportunistic insiders, 2 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (5 analysts), mean target USD 142.4 (range 128–147).
- Total return with dividends: 1Y +19.6% vs S&P 500 +14.4%; 5Y +106.1% vs S&P 500 +77.0%.
- Next earnings: 2026-10-23, EPS estimate USD 2.36, revenue estimate $83.1M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $225M | $252M | $290M | $294M | $314M | $322M |
| Net income | $88.1M | $102M | $114M | $117M | $130M | $132M |
| EPS (diluted) | $5.66 | $6.80 | $7.61 | $7.89 | $8.93 | — |
| Free cash flow | $99.0M | $114M | $135M | $129M | $128M | $139M |
| Net margin | 39.1% | 40.5% | 39.5% | 39.9% | 41.5% | 40.9% |
| Revenue growth | -5.1% | +11.9% | +15.0% | +1.3% | +7.0% | — |
| Cash + short-term investments | $635M | $200M | $156M | $225M | $192M | — |
| Total debt | — | $0K | $100M | $150M | $150M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 15.2x · P/S 6.2x · P/FCF 14.4x · P/B 2.5x · FCF yield 6.92% · Earnings yield 6.58% · Dividend yield (paid, TTM) 2.45% · Buyback yield (TTM) 2.75%
P/E at fiscal year-ends: Dec 2025 13.2x, Dec 2024 14.9x, Dec 2023 14.4x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 10 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-26 | Rowe Sharon H | Director | 400 | $58K | 3.6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-30 | Hageboeck Charles R | President & CEO | 4,485 | $650K | 8.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-29 | Hageboeck Charles R | President & CEO | 1,858 | $231K | 3.5% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-26 | Legge Jeffrey Dale | EVP, CAO & CIO | 1,309 | $164K | 7.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-22 | Bumgarner David L | EVP & Chief Financial Officer | 1,161 | $145K | 7.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-20 | Bumgarner David L | EVP & Chief Financial Officer | 805 | $100K | 5.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-06 | Bumgarner David L | EVP & Chief Financial Officer | 402 | $50K | 2.5% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-28 | Hageboeck Charles R | President & CEO | 5,855 | $734K | 10% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-28 | Quinlan Michael T Jr | EVP, Retail Banking | 1,210 | $153K | 17.5% | No | Routine (sold in May each year 2023–2025; this trade is outside those months) |
| 2026-04-27 | Hageboeck Charles R | President & CEO | 375 | $47K | 0.6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
9 purchases, $130K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-21 | Strong-Treister Diane W | Director | 110 | $15K | 134.55 | Too little history (no open-market trades in 2023) |
| 2026-07-21 | Reyes Javier A | Director | 83 | $11K | 134.55 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-21 | Hoyer James A | Director | 95 | $13K | 134.55 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-21 | Fisher Robert D | Director | 156 | $21K | 134.55 | Routine (bought in Oct each year 2023–2025; this trade is outside those months) |
| 2026-05-12 | Parsons James M. | Director | 100 | $12K | 121.6 | Too little history (no open-market trades in 2023) |
| 2026-04-20 | Strong-Treister Diane W | Director | 119 | $15K | 126.36 | Too little history (no open-market trades in 2023) |
| 2026-04-20 | Reyes Javier A | Director | 103 | $13K | 126.36 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-20 | Hoyer James A | Director | 103 | $13K | 126.36 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-20 | Fisher Robert D | Director | 133 | $17K | 126.36 | Routine (bought in Oct each year 2023–2025; this trade is outside those months) |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 5 analysts; mean target USD 142.4 (low 128, high 147).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-01 | Keefe, Bruyette & Woods | Target raised | Market Perform | $135 → $145 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +19.6% | +106.1% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +19.6% | +15.6% |
| Volatility (annualized) | 17.0% | 20.7% |
| Max drawdown | -8.8% (Feb 2026→Mar 2026) | -16.3% (Nov 2024→Apr 2025) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.89 -1.52% · FITB (Fifth Third Bancorp) USD 52.64 -1.11% · DB (Deutsche Bank AG) USD 30.87 -1.94% · TFC (Truist Financial Corporation) USD 47.98 -0.92% · NWG (NatWest Group plc) USD 16.62 -2.18% · NU (Nu Holdings Ltd.) USD 14.62 -0.73%

## More
Full page: https://nexqual.com/CHCO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Service charges | $7.9M | — | +5.2% |
| Bankcard revenue | $7.5M | — | +4.4% |
| Wealth and investment management fee income | $3.5M | — | +14.4% |
| Total revenue | — | 100% | — |

## Company outlook (8-K filed 2026-07-22)

- "Such information is provided to assist stockholders and potential investors in understanding current and anticipated financial operations of the Company and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.36 | $2.30 | +2.4% | $83.1M | 5 |
| Next quarter (ends 2026-12-31) | $2.37 | $2.32 | +2.3% | $83.8M | 5 |
| Current fiscal year (ends 2026-12-31) | $9.28 | $9.06 | +2.4% | $328.4M | 5 |
| Next fiscal year (ends 2027-12-31) | $9.66 | $9.48 | +1.9% | $339.1M | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-23): ±5.5%; last 8 reports averaged ±2.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 23.9% | ±5.5% |
| 2026-12-18 | 56 | 22.4% | ±7.1% |
| 2027-03-19 | 147 | 22.6% | ±11.5% |
| 2027-06-17 | 237 | 23.3% | ±14.9% |