Tracy W. Hylton II Buys 189 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) Director Tracy W. Hylton II purchased 189 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was acquired at an average price of $97.73 per share, for a total transaction of $18,470.97. Following the purchase, the director now owns 59,834 shares of the company’s stock, valued at approximately $5,847,576.82. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

City Trading Up 3.0 %

Shares of NASDAQ CHCO opened at $103.01 on Friday. The stock’s 50 day moving average price is $101.59 and its two-hundred day moving average price is $100.74. City Holding has a 52-week low of $82.53 and a 52-week high of $115.89. The stock has a market capitalization of $1.53 billion, a P/E ratio of 13.54 and a beta of 0.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.06). The company had revenue of $86.10 million during the quarter, compared to the consensus estimate of $72.50 million. City had a return on equity of 18.62% and a net margin of 33.31%. On average, analysts anticipate that City Holding will post 7.43 earnings per share for the current fiscal year.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, April 12th. City’s dividend payout ratio (DPR) is 37.58%.

Institutional Trading of City

Several hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of City by 229.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 128,403 shares of the bank’s stock worth $14,158,000 after purchasing an additional 89,408 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of City in the 4th quarter worth approximately $599,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of City by 10.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,521 shares of the bank’s stock worth $1,161,000 after purchasing an additional 983 shares during the last quarter. Barclays PLC increased its position in City by 65.4% in the 4th quarter. Barclays PLC now owns 32,135 shares of the bank’s stock valued at $3,543,000 after acquiring an additional 12,706 shares during the period. Finally, Nuveen Asset Management LLC increased its position in City by 1.8% in the 4th quarter. Nuveen Asset Management LLC now owns 39,283 shares of the bank’s stock valued at $4,331,000 after acquiring an additional 683 shares during the period. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CHCO. Stephens upped their price objective on City from $98.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Piper Sandler upped their price objective on City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.