City Holding Company (NASDAQ:CHCO) Director Purchases $14,356.65 in Stock

Key Points

• Director Purchase: City Holding Company's Director Robert D. Fisher bought 113 shares at an average price of $127.05, totaling $14,356.65, resulting in a 0.25% increase in his ownership of the stock.
• Quarterly Earnings Report: The company reported $2.29 EPS, surpassing the consensus estimate by $0.32, with revenue of $78.16 million for the quarter.
• Dividend Announcement: City Holding Company declared a quarterly dividend of $0.79 per share to be paid on July 31, yielding an annualized dividend of $3.16 or 2.52%.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Robert D. Fisher acquired 113 shares of City stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $127.05 per share, for a total transaction of $14,356.65. Following the completion of the transaction, the director directly owned 45,622 shares in the company, valued at approximately $5,796,275.10. The trade was a 0.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

City Trading Down 1.1%

NASDAQ:CHCO traded down $1.34 during midday trading on Friday, reaching $120.76. 124,320 shares of the stock traded hands, compared to its average volume of 154,531. The company has a fifty day moving average of $122.17 and a 200 day moving average of $119.01. City Holding Company has a 12 month low of $102.22 and a 12 month high of $137.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.81. The stock has a market capitalization of $1.75 billion, a P/E ratio of 14.53 and a beta of 0.56.

City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.32. The company had revenue of $78.16 million during the quarter, compared to analyst estimates of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.30%. On average, research analysts predict that City Holding Company will post 7.58 EPS for the current year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 15th. City's payout ratio is presently 38.03%.

Analysts Set New Price Targets

CHCO has been the topic of several recent research reports. Wall Street Zen upgraded City from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods boosted their price objective on shares of City from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. DA Davidson boosted their price objective on shares of City from $128.00 to $137.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Hovde Group boosted their price objective on shares of City from $130.00 to $136.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $133.25.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in City by 69.7% during the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after purchasing an additional 115 shares during the period. CWM LLC grew its position in shares of City by 43.9% in the 1st quarter. CWM LLC now owns 282 shares of the bank's stock worth $33,000 after buying an additional 86 shares during the period. Sterling Capital Management LLC grew its position in shares of City by 781.3% in the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock worth $50,000 after buying an additional 375 shares during the period. GAMMA Investing LLC grew its position in shares of City by 69.0% in the 2nd quarter. GAMMA Investing LLC now owns 546 shares of the bank's stock worth $67,000 after buying an additional 223 shares during the period. Finally, First United Bank & Trust purchased a new stake in shares of City in the 1st quarter worth about $78,000. 72.43% of the stock is owned by hedge funds and other institutional investors.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.