City (NASDAQ:CHCO) Sets New 12-Month High – Should You Buy?

City Holding Company (NASDAQ:CHCO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $147.56 and last traded at $146.5440, with a volume of 18751 shares trading hands. The stock had previously closed at $145.11.

Wall Street Analyst Weigh In

CHCO has been the subject of several analyst reports. Weiss Ratings raised City from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, July 16th. Hovde Group increased their price target on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $136.50.

City Stock Up 0.2%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 15.94 and a beta of 0.48. The firm has a 50-day moving average price of $132.91 and a two-hundred day moving average price of $126.43.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. City had a return on equity of 16.38% and a net margin of 32.58%. On average, sell-side analysts forecast that City Holding Company will post 9.29 earnings per share for the current year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, July 15th. City’s payout ratio is currently 38.07%.

Insider Activity

In related news, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer directly owned 10,666 shares of the company’s stock, valued at $1,327,917. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles R. Hageboeck sold 4,485 shares of City stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the sale, the chief executive officer owned 43,998 shares in the company, valued at $6,377,950.08. This represents a 9.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 544 shares of company stock worth $71,900 and sold 9,618 shares worth $1,289,673. Company insiders own 1.75% of the company’s stock.

Institutional Trading of City

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its stake in City by 35.2% during the 1st quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock worth $7,374,000 after buying an additional 16,060 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after buying an additional 29,828 shares during the last quarter. Virtu Financial LLC purchased a new stake in City in the fourth quarter valued at approximately $1,353,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of City by 40.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 48,766 shares of the bank’s stock valued at $5,829,000 after acquiring an additional 13,976 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of City by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock valued at $56,217,000 after acquiring an additional 8,992 shares during the period. Institutional investors and hedge funds 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.