City (NASDAQ:CHCO) Director Diane Strong-Treister Purchases 128 Shares

Key Points

• Diane Strong-Treister, a director at City Holding Company (NASDAQ:CHCO), purchased 128 shares of the company at an average price of $117.23, bringing her total ownership to 3,477 shares valued at approximately $407,608.71.
• City Holding recently announced a dividend increase to $0.87 per share, up from $0.79, reflecting a 2.9% annualized yield, with the payment date set for October 31st.
• The company's stock saw a 2.0% increase in trading, reaching $119.42, while City Holding reported strong earnings with an EPS of $2.29, exceeding analysts' expectations by $0.32.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Diane Strong-Treister bought 128 shares of City stock in a transaction that occurred on Thursday, October 16th. The shares were acquired at an average price of $117.23 per share, with a total value of $15,005.44. Following the acquisition, the director directly owned 3,477 shares of the company's stock, valued at $407,608.71. The trade was a 3.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

City Stock Up 2.0%

NASDAQ:CHCO traded up $2.38 on Friday, hitting $119.42. 83,775 shares of the company's stock were exchanged, compared to its average volume of 83,516. The firm has a 50-day moving average price of $124.67 and a 200-day moving average price of $121.31. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $1.73 billion, a P/E ratio of 14.37 and a beta of 0.53.

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

City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be issued a dividend of $0.87 per share. The ex-dividend date is Wednesday, October 15th. This is a positive change from City's previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. City's dividend payout ratio is presently 41.88%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CHCO. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of City by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,981 shares of the bank's stock valued at $1,408,000 after acquiring an additional 1,340 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in City by 6.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,651 shares of the bank's stock worth $546,000 after purchasing an additional 301 shares in the last quarter. Bessemer Group Inc. boosted its holdings in City by 69.7% in 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. QRG Capital Management Inc. boosted its holdings in City by 18.4% in the 1st quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank's stock valued at $525,000 after purchasing an additional 693 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of City during the 1st quarter worth approximately $326,000. Institutional investors own 72.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson increased their price target 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. Keefe, Bruyette & Woods raised 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. Weiss Ratings reiterated a "buy (b)" rating on shares of City in a report on Wednesday, October 8th. 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 note on Wednesday, July 23rd. Finally, Zacks Research downgraded City from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $133.25.

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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