City Holding Company (NASDAQ:CHCO) Receives Consensus Rating of “Hold” from Brokerages

Shares of City Holding Company (NASDAQ:CHCO) have been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $134.25.

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

City Trading Down 0.6%

NASDAQ:CHCO opened at $126.04 on Tuesday. City has a 52 week low of $113.21 and a 52 week high of $133.59. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 13.88 and a beta of 0.49. The company’s 50 day moving average price is $123.99 and its 200-day moving average price is $122.97. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.03. The business had revenue of $79.25 million for the quarter, compared to analysts’ expectations of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. On average, equities research analysts forecast that City will post 8.99 earnings per share for the current fiscal year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s payout ratio is presently 38.33%.

City declared that its board has authorized a stock repurchase plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at City

In related news, CFO David L. Bumgarner sold 1,161 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 10,666 shares in the company, valued at approximately $1,327,917. This trade represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the sale, the executive vice president owned 3,314 shares of the company’s stock, valued at approximately $417,862.26. This represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have purchased 455 shares of company stock worth $57,018 and have sold 12,975 shares worth $1,622,853. Company insiders own 1.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Corp increased its position in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of City in the fourth quarter worth approximately $29,000. Quarry LP bought a new stake in City during the third quarter valued at approximately $32,000. Simplex Trading LLC bought a new stake in City during the fourth quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. increased its holdings in City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after buying an additional 198 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other 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.