Insider Buying: City (NASDAQ:CHCO) Director Buys 119 Shares of Stock

City Holding Company (NASDAQ:CHCO) Director Diane Strong-Treister purchased 119 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was bought at an average price of $126.36 per share, with a total value of $15,036.84. Following the acquisition, the director directly owned 3,987 shares in the company, valued at approximately $503,797.32. This represents a 3.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Price Performance

Shares of CHCO stock traded down $1.11 during mid-day trading on Monday, reaching $126.12. The stock had a trading volume of 84,093 shares, compared to its average volume of 111,669. City Holding Company has a 12-month low of $111.99 and a 12-month high of $133.59. The company has a market cap of $1.81 billion, a P/E ratio of 14.11 and a beta of 0.49. The business has a 50-day simple moving average of $122.23 and a 200 day simple moving average of $122.12. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.61%. The firm had revenue of $60.83 million during the quarter, compared to analysts’ expectations of $81.38 million. On average, sell-side analysts anticipate that City Holding Company will post 8.87 earnings per share for the current year.

City declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 25th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be given a $0.87 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is currently 38.93%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. Piper Sandler raised their price target on City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, City currently has an average rating of “Hold” and a consensus target price of $134.50.

Hedge Funds Weigh In On City

Hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new position in City during the fourth quarter worth $29,000. First Horizon Corp boosted its position 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 acquiring an additional 146 shares during the last quarter. Quarry LP acquired a new stake in City during the third quarter worth approximately $32,000. Simplex Trading LLC purchased a new stake in City in the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. grew its stake in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after acquiring an additional 198 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

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.