City Holding Company (NASDAQ:CHCO) Given Average Recommendation of “Hold” by Analysts

City Holding Company (NASDAQ:CHCO) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $134.25.

Several brokerages have commented on CHCO. Piper Sandler raised their price objective on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Hovde Group upped their price target on City from $133.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th.

City Price Performance

Shares of NASDAQ CHCO opened at $122.11 on Friday. City has a 1 year low of $113.21 and a 1 year high of $133.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50-day moving average is $122.00 and its 200 day moving average is $122.40. The stock has a market capitalization of $1.72 billion, a P/E ratio of 13.45 and a beta of 0.50.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million during the quarter, compared to analyst estimates of $79.25 million. On average, sell-side analysts expect that City will post 8.99 earnings per share for the current year.

City announced that its board has approved a stock repurchase program on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.48 annualized dividend and a yield of 2.8%. City’s payout ratio is presently 38.33%.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 5,855 shares of City stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total value of $733,631.50. Following the completion of the transaction, the chief executive officer directly owned 50,341 shares of the company’s stock, valued at approximately $6,307,727.30. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David L. Bumgarner sold 402 shares of City stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $125.00, for a total transaction of $50,250.00. Following the completion of the transaction, the chief financial officer directly owned 12,632 shares of the company’s stock, valued at $1,579,000. This trade represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 1,008 shares of company stock valued at $121,099 and have sold 9,117 shares valued at $1,143,121. 1.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHCO. Two Sigma Investments LP raised its holdings in City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after buying an additional 71,436 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after buying an additional 29,828 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in City by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after buying an additional 22,536 shares during the last quarter. Renaissance Technologies LLC raised its holdings in City by 55.0% in the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock worth $7,373,000 after buying an additional 21,898 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in City in the second quarter worth about $2,216,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Company Profile

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.