City (NASDAQ:CHCO) Stock: Insider Diane Strong-Treister Purchases 120 Shares

City Holding Company (NASDAQ:CHCO) Director Diane Strong-Treister acquired 120 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was acquired at an average price of $142.13 per share, for a total transaction of $17,055.60. Following the completion of the transaction, the director owned 4,217 shares in the company, valued at approximately $599,362.21. The trade was a 2.93% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Price Performance

Shares of City stock opened at $142.01 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $2.00 billion, a PE ratio of 15.54 and a beta of 0.49. The business has a 50 day moving average of $142.51 and a 200 day moving average of $134.91. City Holding Company has a 52 week low of $113.21 and a 52 week high of $148.99.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS 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 return on equity of 16.34% and a net margin of 32.58%. As a group, equities research analysts forecast that City Holding Company will post 9.32 earnings per share for the current year.

City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. This is a boost from City’s previous quarterly dividend of $0.87. City’s payout ratio is presently 43.76%.

Institutional Investors Weigh In On City

A number of hedge funds have recently modified their holdings of CHCO. BlackRock Inc. bought a new position in shares of City during the second quarter valued at approximately $270,231,000. Bank of New York Mellon Corp purchased a new stake in City during the second quarter worth $15,012,000. Legal & General Group Plc bought a new stake in City during the 2nd quarter valued at $4,585,000. Bank of America Corp DE purchased a new position in shares of City in the 2nd quarter valued at $4,181,000. Finally, Man Group plc purchased a new position in shares of City in the 2nd quarter valued at $3,558,000. Institutional investors own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CHCO. Keefe, Bruyette & Woods increased their price objective on shares of City from $135.00 to $145.00 and gave the company a “market perform” rating in a research report on Thursday, October 1st. Hovde Group upped their target price on shares of City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of City from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.33.

About City

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.