Brokerages Set City Holding Company (NASDAQ:CHCO) PT at $134.25

City Holding Company (NASDAQ:CHCO) has been assigned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $134.25.

A number of brokerages have commented on CHCO. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. Hovde Group boosted their price target on City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th.

City Stock Performance

Shares of CHCO opened at $134.85 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.90 billion, a P/E ratio of 14.85 and a beta of 0.49. The company has a 50-day moving average of $126.37 and a two-hundred day moving average of $124.06. City has a 12-month low of $113.21 and a 12-month high of $136.17.

City (NASDAQ:CHCO) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, beating the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. As a group, research analysts predict that City will post 8.99 EPS for the current fiscal year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.6%. City’s dividend payout ratio (DPR) is presently 38.33%.

City announced that its board has approved a share repurchase program on Wednesday, March 25th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total value of $152,568.90. Following the completion of the transaction, the executive vice president owned 3,314 shares of the company’s stock, valued at approximately $417,862.26. The trade was a 26.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles R. Hageboeck sold 5,855 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total transaction of $733,631.50. Following the completion of the transaction, the chief executive officer owned 50,341 shares in the company, valued at approximately $6,307,727.30. This trade represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 455 shares of company stock worth $57,018 and sold 12,975 shares worth $1,622,853. 1.75% of the stock is owned by insiders.

Institutional Trading of City

A number of hedge funds have recently bought and sold shares of CHCO. First Horizon Corp grew its stake in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after acquiring an additional 146 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of City during the 4th quarter worth $29,000. Quarry LP purchased a new position in shares of City during the 3rd quarter worth $32,000. Simplex Trading LLC acquired a new stake in shares of City during the fourth quarter worth $36,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

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.