City (NASDAQ:CHCO) Director Purchases $11,167.65 in Stock

City Holding Company (NASDAQ:CHCO) Director Javier Reyes acquired 83 shares of City stock in a transaction dated Tuesday, July 21st. The stock was purchased at an average cost of $134.55 per share, for a total transaction of $11,167.65. Following the completion of the purchase, the director directly owned 2,368 shares in the company, valued at approximately $318,614.40. This represents a 3.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Down 0.5%

Shares of NASDAQ:CHCO opened at $144.50 on Friday. The stock has a 50-day simple moving average of $131.67 and a 200-day simple moving average of $125.94. The stock has a market capitalization of $2.04 billion, a P/E ratio of 15.81 and a beta of 0.49. City Holding Company has a 1 year low of $113.21 and a 1 year high of $146.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.38%. The firm had revenue of $81.52 million for the quarter, compared to analyst estimates of $80.64 million. Equities analysts forecast that City Holding Company will post 9.29 earnings per share for the current year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s dividend payout ratio (DPR) is currently 38.07%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CHCO. Hovde Group upped their price target on shares of City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research report on Monday. Weiss Ratings raised City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $136.50.

Institutional Trading of City

A number of hedge funds have recently made changes to their positions in CHCO. First Horizon Corp boosted its stake in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Kestra Advisory Services LLC purchased a new stake in City during the 4th quarter worth $29,000. Quarry LP acquired a new position in City in the 3rd quarter worth $32,000. Simplex Trading LLC acquired a new position in City in the 4th quarter worth $36,000. Finally, Geneos Wealth Management Inc. boosted its position in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after buying an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

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.