City (NASDAQ:CHCO) Sees Strong Trading Volume – Still a Buy?

City Holding Company (NASDAQ:CHCO) saw unusually-strong trading volume on Monday . 51,421 shares were traded during mid-day trading, a decline of 55% from the previous session’s volume of 114,548 shares.The stock last traded at $142.5750 and had previously closed at $143.46.

Analyst Ratings Changes

Several analysts have weighed in on CHCO shares. Weiss Ratings raised shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 24th. Hovde Group boosted their target price on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $136.50.

City Trading Down 0.2%

The stock has a market capitalization of $2.01 billion, a P/E ratio of 15.66 and a beta of 0.48. The firm’s 50 day moving average price is $139.62 and its 200 day moving average price is $129.12. 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 (NASDAQ:CHCO) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 32.58% and a return on equity of 16.34%. As a group, equities research analysts expect that City Holding Company will post 9.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Charles R. Hageboeck sold 4,485 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon H. Rowe sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total value of $57,584.00. Following the transaction, the director owned 10,576 shares of the company’s stock, valued at approximately $1,522,520.96. This represents a 3.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired a total of 444 shares of company stock valued at $59,740 in the last ninety days. 1.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new stake in shares of City in the 2nd quarter worth about $27,000. Kestra Advisory Services LLC bought a new position in City in the fourth quarter worth about $29,000. Quarry LP purchased a new stake in City in the third quarter worth about $32,000. Simplex Trading LLC purchased a new stake in City in the fourth quarter worth about $36,000. Finally, Archer Investment Corp bought a new stake in City during the 2nd quarter valued at approximately $49,000. 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.