In a recent filing of insider activity, David L. Bumgarner, who serves as the Executive Vice President and Chief Financial Officer for City Holding Co (CHCO), executed a sale of company equity. On May 6, 2026, Mr. Bumgarner sold 402 shares of the firm's common stock at a price of $125 per share. This transaction resulted in a total value of $50,250.
At the time of this sale, CHCO was trading at $123.82, a level that analysis suggests is undervalued relative to its fair value estimate. The stock currently maintains a P/E ratio of 13.6 and provides investors with a dividend yield of 2.83%. The company has demonstrated a long history of dividend stability, having maintained payments for 25 consecutive years and implementing annual dividend increases for the last 14 years.
Following this specific transaction, Mr. Bumgarner's direct holdings in City Holding Co common stock stand at 12,632.146 shares. His total equity position also includes indirect holdings: 3,073.7288 shares held through a 401(k) Plan and Trust (based on the December 31, 2024 valuation date) and an additional 115 shares held within an IRA.
Furthermore, Mr. Bumgarner's compensation structure includes various restricted stock units (RSUs), which grant the right to receive one share of common stock upon settlement. His RSU holdings are distributed across several vesting schedules:
- 170 RSUs with vesting in thirds on February 23, 2023, 2024, and 2025.
- 379 RSUs with vesting in thirds on February 22, 2024, 2025, and 2026.
- 615 RSUs with vesting in thirds on February 23, 2025, 2026, and 2027.
- 524 RSUs with vesting in thirds on March 21, 2026, 2027, and 2028.
- 534 RSUs with vesting in thirds on February 25, 2027, 2028, and 2029.
Corporate Leadership and Governance Updates
City Holding Company has also undergone notable changes in its leadership hierarchy. Michael T. Quinlan, Jr. has been appointed as the new president of City National Bank of West Virginia. Mr. Quinlan moves into this role from his previous position as executive vicepresident of retail banking. He succeeds Charles "Skip" R. Hageboeck, who will maintain his roles as CEO of the bank and as the president and CEO of City Holding Company.
In a move to expand its oversight capabilities, the company has elected B. Scott Raynes to its board of directors. Mr. Raynes, the President and CEO of Marshall Health Network, joins the board as a Class II director for a two-year term. This appointment increases the total number of board members from 11 to 12.
Shareholder Value Initiatives
In another strategic development, City Holding Company has authorized a program to repurchase up to 1 million common shares. This represents approximately 7% of the company's outstanding shares. Management intends to execute these buybacks through open market transactions at price levels that are considered accretive to earnings per share. No specific time limit has been established for this program, providing management with the flexibility to conduct purchases based on prevailing business and market conditions.