City (NASDAQ:CHCO) Hits New 52-Week High – Time to Buy?

City Holding Company (NASDAQ:CHCO) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $148.83 and last traded at $148.0450, with a volume of 14603 shares trading hands. The stock had previously closed at $147.22.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings cut shares of City from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 7th. Hovde Group boosted their target price on City from $135.00 to $143.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $136.50.

City Trading Up 0.3%

The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.16 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50-day simple moving average is $135.48 and its 200-day simple moving average is $127.36.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $81.52 million during the quarter, compared to analyst estimates of $80.64 million. City had a return on equity of 16.34% and a net margin of 32.58%. On average, research analysts expect that City Holding Company will post 9.29 earnings per share for the current fiscal year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. City’s dividend payout ratio (DPR) is currently 38.07%.

Insider Activity

In other news, CFO David L. Bumgarner sold 1,161 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the transaction, the chief financial officer directly owned 10,666 shares of the company’s stock, valued at $1,327,917. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 4,485 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $144.96, for a total value of $650,145.60. Following the transaction, the chief executive officer owned 43,998 shares of the company’s stock, valued at approximately $6,377,950.08. The trade was a 9.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 444 shares of company stock worth $59,740 and have sold 9,618 shares worth $1,289,673. Corporate insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in shares of City during the 2nd quarter worth about $27,000. Kestra Advisory Services LLC acquired a new stake in shares of City in the fourth quarter valued at about $29,000. First Horizon Corp increased its position 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 acquiring an additional 146 shares during the last quarter. Quarry LP bought a new stake in City during the third quarter worth about $32,000. Finally, Simplex Trading LLC bought a new stake in City during the fourth quarter worth about $36,000. 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.