City (NASDAQ:CHCO) Sees Strong Trading Volume – Still a Buy?

City Holding Company (NASDAQ:CHCO) shares saw strong trading volume on Monday . 61,875 shares changed hands during trading, a decline of 46% from the previous session’s volume of 115,075 shares.The stock last traded at $135.4070 and had previously closed at $135.76.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CHCO. 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 report on Tuesday, April 28th. Weiss Ratings raised shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, City presently has an average rating of “Hold” and an average price target of $134.25.

City Stock Performance

The stock has a market cap of $1.91 billion, a PE ratio of 14.94 and a beta of 0.49. The firm’s 50-day moving average is $128.40 and its 200 day moving average is $124.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

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

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, July 15th. City’s payout ratio is 38.33%.

City declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CFO David L. Bumgarner sold 1,161 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer owned 10,666 shares of the company’s stock, valued at approximately $1,327,917. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total value of $152,568.90. Following the sale, the executive vice president owned 3,314 shares of the company’s stock, valued at $417,862.26. This trade represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,975 shares of company stock valued at $1,622,853 in the last quarter. 1.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On City

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

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.