City (NASDAQ:CHCO) Director Robert Fisher Purchases 165 Shares of Company Stock

City Holding Company (NASDAQ:CHCO) Director Robert Fisher acquired 165 shares of City stock in a transaction dated Friday, October 23rd. The shares were bought at an average price of $142.13 per share, with a total value of $23,451.45. Following the transaction, the director directly owned 47,877 shares in the company, valued at approximately $6,804,758.01. The trade was a 0.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Trading Down 1.0%

Shares of City stock opened at $142.01 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $142.51 and a 200-day simple moving average of $134.91. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 15.54 and a beta of 0.49. City Holding Company has a 12-month low of $113.21 and a 12-month high of $148.99.

City (NASDAQ:CHCO) last announced 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. City had a net margin of 32.58% and a return on equity of 16.34%. The firm had revenue of $81.52 million for the quarter, compared to analyst estimates of $80.64 million. On average, equities analysts forecast that City Holding Company will post 9.32 EPS for the current fiscal year.

City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a $1.00 dividend. This is a boost from City’s previous quarterly dividend of $0.87. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, October 15th. City’s payout ratio is currently 43.76%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings upgraded City from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Keefe, Bruyette & Woods boosted their target price on City from $135.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, October 1st. Finally, Hovde Group upped their target price 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 investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.33.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of City in the second quarter valued at about $270,231,000. Dimensional Fund Advisors LP raised its holdings in City by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after purchasing an additional 8,992 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in City during the second quarter worth about $15,012,000. Principal Financial Group Inc. raised its holdings in City by 2.1% during the first quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock worth $8,398,000 after purchasing an additional 1,460 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in City by 35.2% in the first quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock valued at $7,374,000 after purchasing an additional 16,060 shares during the period. 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 Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.