City (NASDAQ:CHCO) Sets New 1-Year High – Time to Buy?

Shares of City Holding Company (NASDAQ:CHCO) reached a new 52-week high on Thursday . The company traded as high as $135.91 and last traded at $135.26, with a volume of 154770 shares. The stock had previously closed at $132.64.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CHCO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. Hovde Group upped their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $134.25.

City Price Performance

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 company has a 50-day moving average price of $125.97 and a 200-day moving average price of $123.91. The firm has a market capitalization of $1.91 billion, a P/E ratio of 14.90 and a beta of 0.49.

City (NASDAQ:CHCO) last released its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The firm had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. On average, sell-side analysts predict that City Holding Company will post 8.99 earnings per share for the current year.

City Announces Dividend

The company 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 annualized dividend and a yield of 2.6%. City’s dividend payout ratio (DPR) is presently 38.33%.

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

Insider Activity

In other news, CFO David L. Bumgarner sold 1,161 shares of City stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total transaction of $163,625.00. Following the completion of the sale, the executive vice president owned 7,656 shares of the company’s stock, valued at approximately $957,000. This represents a 14.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 455 shares of company stock valued at $57,018 and have sold 12,975 shares valued at $1,622,853. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On City

A number of hedge funds have recently modified their holdings of CHCO. Kestra Advisory Services LLC acquired a new position in shares of City in the 4th quarter valued at approximately $29,000. First Horizon Corp lifted its holdings in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Quarry LP acquired a new position in shares of City during the third quarter worth about $32,000. Simplex Trading LLC acquired a new stake in City in the 4th quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. lifted its stake in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after acquiring an additional 198 shares in the last quarter. 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.