Insider Buying: City (NASDAQ:CHCO) Director Purchases $13,015.08 in Stock

City Holding Company (NASDAQ:CHCO) Director Javier Reyes purchased 103 shares of the business’s stock in a transaction on Monday, April 20th. The stock was purchased at an average cost of $126.36 per share, with a total value of $13,015.08. Following the completion of the acquisition, the director owned 607 shares in the company, valued at approximately $76,700.52. This trade represents a 20.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Down 0.8%

Shares of NASDAQ:CHCO opened at $124.38 on Thursday. The firm has a fifty day moving average price of $122.12 and a two-hundred day moving average price of $122.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. City Holding Company has a one year low of $113.21 and a one year high of $133.59. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 13.91 and a beta of 0.49.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.61%. The firm had revenue of $60.83 million during the quarter, compared to the consensus estimate of $81.38 million. Analysts anticipate that City Holding Company will post 8.87 EPS for the current fiscal year.

City declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 25th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 15th. City’s dividend payout ratio (DPR) is presently 38.93%.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $134.50.

Institutional Trading of City

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new stake in shares of City during the 1st quarter valued at $765,000. Virtu Financial LLC purchased a new stake in shares of City during the 4th quarter valued at $1,353,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of City during the 4th quarter valued at $202,000. XTX Topco Ltd purchased a new stake in shares of City during the 4th quarter valued at $712,000. Finally, Zacks Investment Management raised its position in shares of City by 3.6% during the 4th quarter. Zacks Investment Management now owns 24,584 shares of the bank’s stock valued at $2,930,000 after buying an additional 844 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

About City

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.