James Parsons Purchases 100 Shares of City (NASDAQ:CHCO) Stock

City Holding Company (NASDAQ:CHCO) Director James Parsons bought 100 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $121.60 per share, for a total transaction of $12,160.00. Following the transaction, the director directly owned 2,800 shares in the company, valued at approximately $340,480. This represents a 3.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

City Price Performance

Shares of NASDAQ CHCO opened at $122.11 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a fifty day moving average of $122.00 and a 200 day moving average of $122.40. The firm has a market cap of $1.72 billion, a PE ratio of 13.45 and a beta of 0.50. City Holding Company has a one year low of $113.21 and a one year high of $133.59.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.03. The business had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. As a group, research analysts predict that City Holding Company will post 8.99 EPS for the current fiscal year.

City announced that its board has approved a stock buyback program on Wednesday, March 25th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

City Dividend Announcement

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

Hedge Funds Weigh In On City

A number of institutional investors have recently added to or reduced their stakes in CHCO. State Street Corp grew its holdings in City by 1.0% in the 2nd quarter. State Street Corp now owns 639,166 shares of the bank’s stock valued at $78,247,000 after buying an additional 6,371 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of City by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock worth $70,740,000 after acquiring an additional 6,552 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of City by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock valued at $56,217,000 after acquiring an additional 8,992 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of City by 0.6% in the fourth quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock valued at $25,443,000 after purchasing an additional 1,354 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock valued at $15,335,000 after purchasing an additional 71,436 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CHCO shares. Piper Sandler boosted their price target on City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Hovde Group raised their price objective on City from $133.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $134.25.

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.