City (NASDAQ:CHCO) Director Acquires $20,989.80 in Stock

City Holding Company (NASDAQ:CHCO) Director Robert Fisher acquired 156 shares of the stock in a transaction on Tuesday, July 21st. The shares were bought at an average cost of $134.55 per share, for a total transaction of $20,989.80. Following the purchase, the director directly owned 47,507 shares of the company’s stock, valued at $6,392,066.85. The trade was a 0.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 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. City Holding Company has a 52-week low of $113.21 and a 52-week high of $146.66. The stock has a market cap of $2.04 billion, a P/E ratio of 15.81 and a beta of 0.49. The business has a fifty day moving average of $131.67 and a two-hundred day moving average of $125.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $81.52 million for the quarter, compared to analyst estimates of $80.64 million. City had a return on equity of 16.38% 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 year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, July 15th. City’s dividend payout ratio (DPR) is presently 38.07%.

Hedge Funds Weigh In On City

A number of hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC acquired a new position in City in the fourth quarter valued at about $29,000. First Horizon Corp boosted its stake in City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after buying an additional 146 shares during the period. Quarry LP acquired a new stake in shares of City during the third quarter valued at about $32,000. Simplex Trading LLC purchased a new stake in shares of City in the 4th quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 198 shares during the period. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of City from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 16th. Hovde Group lifted their price target on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $136.50.

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.