Javier A. Reyes Buys 90 Shares of City Holding Company (NASDAQ:CHCO) Stock

Key Points

• Director Javier A. Reyes of City Holding Company purchased 90 shares at an average price of $127.05, increasing his total ownership to 1,707 shares, valued at approximately $216,874.35.
• The company reported a quarterly earnings per share of $2.29, exceeding analyst expectations by $0.32, alongside a net margin of 31.35% and a revenue of $78.16 million.
• City Holding Company announced a quarterly dividend of $0.79 per share, with a dividend yield of 2.52% and a payout ratio of 38.03%.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Javier A. Reyes purchased 90 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was acquired at an average price of $127.05 per share, for a total transaction of $11,434.50. Following the completion of the purchase, the director owned 1,707 shares of the company's stock, valued at approximately $216,874.35. This represents a 5.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

City Stock Down 1.1%

Shares of City stock traded down $1.34 during midday trading on Friday, hitting $120.76. The company's stock had a trading volume of 124,320 shares, compared to its average volume of 154,531. The firm has a market capitalization of $1.75 billion, a P/E ratio of 14.53 and a beta of 0.56. The stock has a 50-day simple moving average of $122.17 and a 200-day simple moving average of $119.01. The company has a quick ratio of 0.83, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. City Holding Company has a 1-year low of $102.22 and a 1-year high of $137.28.

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

City Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On City

A number of institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. grew its position in City by 24.3% during the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock worth $74,192,000 after buying an additional 123,394 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in City by 5.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock valued at $68,139,000 after purchasing an additional 29,302 shares in the last quarter. City Holding Co. boosted its holdings in City by 3.0% during the second quarter. City Holding Co. now owns 263,664 shares of the bank's stock valued at $32,278,000 after purchasing an additional 7,636 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock valued at $31,071,000 after purchasing an additional 51,055 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in City by 2.3% during the fourth quarter. Northern Trust Corp now owns 178,962 shares of the bank's stock valued at $21,203,000 after purchasing an additional 3,944 shares in the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

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.