City (NASDAQ:CHCO) Director James Hoyer Buys 100 Shares of Company Stock

City Holding Company (NASDAQ:CHCO) Director James Hoyer purchased 100 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average cost of $142.13 per share, with a total value of $14,213.00. Following the completion of the acquisition, the director directly owned 802 shares of the company’s stock, valued at $113,988.26. The trade was a 14.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Price Performance

NASDAQ CHCO traded down $1.39 on Friday, hitting $142.01. 112,878 shares of the company were exchanged, compared to its average volume of 113,058. 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 market cap of $1.99 billion, a P/E ratio of 15.54 and a beta of 0.49. The firm has a 50 day moving average of $142.51 and a two-hundred day moving average of $134.91. City Holding Company has a 1-year low of $113.21 and a 1-year high of $148.99.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share 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 during the quarter, compared to analysts’ expectations of $80.64 million. On average, equities analysts predict that City Holding Company will post 9.32 EPS for the current year.

City Increases Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, October 15th. This is a boost from City’s previous quarterly dividend of $0.87. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. City’s payout ratio is 43.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC increased its position in City by 223.6% during the third quarter. Sterling Capital Management LLC now owns 398 shares of the bank’s stock worth $55,000 after acquiring an additional 275 shares during the period. Nisa Investment Advisors LLC boosted its holdings in City by 18.8% in the third quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank’s stock valued at $63,000 after acquiring an additional 72 shares during the last quarter. Dupree Financial Group LLC grew its stake in City by 59.3% during the third quarter. Dupree Financial Group LLC now owns 2,551 shares of the bank’s stock worth $355,000 after purchasing an additional 950 shares during the period. GAMMA Investing LLC lifted its position in shares of City by 10.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,321 shares of the bank’s stock valued at $184,000 after acquiring an additional 124 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of City by 8.8% during the 2nd quarter. QRG Capital Management Inc. now owns 5,058 shares of the bank’s stock worth $671,000 after purchasing an additional 409 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Hovde Group raised their price target on City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their price objective on City from $135.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, October 1st. Finally, Weiss Ratings raised City from a “buy (a-)” rating to a “buy (a)” rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.33.

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.