City (NASDAQ:CHCO) Sees Strong Trading Volume – Should You Buy?

City Holding Company (NASDAQ:CHCO) shares saw unusually-high trading volume on Tuesday . Approximately 44,254 shares traded hands during mid-day trading, a decline of 48% from the previous session’s volume of 84,794 shares.The stock last traded at $123.31 and had previously closed at $123.24.

Wall Street Analysts Forecast Growth

CHCO has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Piper Sandler began coverage on shares of City in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $125.00 price objective on the stock. Weiss Ratings reissued a “buy (b+)” rating on shares of City in a research report on Wednesday, December 17th. Finally, Zacks Research cut City from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $133.25.

City Stock Performance

The firm has a market capitalization of $1.78 billion, a PE ratio of 14.22 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50-day moving average price of $121.49 and a 200-day moving average price of $123.06.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 EPS for the quarter, beating the consensus estimate of $2.15 by $0.26. City had a net margin of 32.33% and a return on equity of 16.66%. The company had revenue of $61.29 million for the quarter, compared to analyst estimates of $80.17 million. On average, research analysts expect that City Holding Company will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, January 15th. City’s dividend payout ratio (DPR) is presently 40.00%.

Insider Transactions at City

In related news, CEO Charles R. Hageboeck sold 2,017 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $120.68, for a total transaction of $243,411.56. Following the completion of the sale, the chief executive officer directly owned 50,359 shares of the company’s stock, valued at approximately $6,077,324.12. This represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 416 shares of company stock worth $48,768 over the last three months. 1.87% of the stock is owned by corporate insiders.

Institutional Trading of City

Large investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its holdings in City by 3.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 3,200 shares of the bank’s stock worth $392,000 after buying an additional 100 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in City by 28.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock valued at $61,000 after purchasing an additional 110 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of City by 0.9% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 12,822 shares of the bank’s stock worth $1,570,000 after buying an additional 116 shares during the last quarter. CWM LLC grew its holdings in City by 45.9% in the 3rd quarter. CWM LLC now owns 467 shares of the bank’s stock valued at $58,000 after buying an additional 147 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of City by 1.9% in the third quarter. Franklin Resources Inc. now owns 9,905 shares of the bank’s stock valued at $1,227,000 after buying an additional 186 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

About City

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.