Insider Buying: City Holding (NASDAQ:CHCO) Director Acquires 2,200 Shares of Stock

City Holding (NASDAQ:CHCO - Get Free Report) Director James M. Parsons bought 2,200 shares of City stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $122.38 per share, for a total transaction of $269,236.00. Following the completion of the transaction, the director now directly owns 2,700 shares in the company, valued at approximately $330,426. This trade represents a 440.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

City Stock Up 1.2%

City stock traded up $1.51 during mid-day trading on Thursday, reaching $122.75. The stock had a trading volume of 3,697 shares, compared to its average volume of 59,278. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 15.55 and a beta of 0.52. The company has a 50-day moving average price of $115.99 and a two-hundred day moving average price of $120.16. City Holding has a one year low of $99.63 and a one year high of $137.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.22. The company had revenue of $74.55 million for the quarter, compared to analysts' expectations of $73.28 million. City had a net margin of 30.83% and a return on equity of 16.49%. On average, analysts expect that City Holding will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, April 15th. City's dividend payout ratio is currently 39.60%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on shares of City from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Friday, January 24th.

Hedge Funds Weigh In On City

Several hedge funds and other institutional investors have recently bought and sold shares of CHCO. Price T Rowe Associates Inc. MD lifted its stake in shares of City by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank's stock worth $1,481,000 after purchasing an additional 893 shares during the period. Barclays PLC increased its holdings in City by 125.3% in the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank's stock worth $3,385,000 after acquiring an additional 16,044 shares in the last quarter. Franklin Resources Inc. increased its holdings in City by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank's stock worth $1,116,000 after acquiring an additional 404 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in City in the 4th quarter worth approximately $227,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in City by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after acquiring an additional 22,226 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.