City Holding Company (NASDAQ:CHCO) Director Javier A. Reyes Purchases 90 Shares

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 acquired 90 shares of the company's stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $127.05 per share, with a total value of $11,434.50. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

City Stock Performance

Shares of NASDAQ:CHCO traded down $1.25 on Tuesday, reaching $125.41. 96,136 shares of the company's stock were exchanged, compared to its average volume of 82,402. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.09 and a beta of 0.54. City Holding Company has a fifty-two week low of $102.22 and a fifty-two week high of $137.28. The business's 50-day moving average is $121.90 and its two-hundred day moving average is $118.88. 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 (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.32. City had a net margin of 31.35% and a return on equity of 16.30%. The business had revenue of $78.16 million for the quarter, compared to analysts' expectations of $76.10 million. As a group, equities research analysts forecast that City Holding Company will post 7.58 EPS for the current year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.52%. City's dividend payout ratio (DPR) is 38.03%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of City from $125.00 to $135.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Hovde Group increased their price objective on shares of City from $130.00 to $136.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of City from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, DA Davidson increased their price objective on shares of City from $128.00 to $137.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $133.25.

Hedge Funds Weigh In On City

Several large investors have recently made changes to their positions in CHCO. Westwood Holdings Group Inc. raised 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 valued at $74,192,000 after acquiring an additional 123,394 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 acquiring an additional 51,055 shares in the last quarter. Norges Bank bought a new position in City during the fourth quarter valued at approximately $5,203,000. Nuveen LLC bought a new position in City during the first quarter valued at approximately $4,883,000. Finally, GAMMA Investing LLC raised its position in City by 13,747.8% during the first quarter. GAMMA Investing LLC now owns 37,943 shares of the bank's stock valued at $4,457,000 after acquiring an additional 37,669 shares in the last quarter. Institutional investors own 72.43% of the company's stock.

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.

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