City (NASDAQ:CHCO) Director James Hoyer Purchases 95 Shares of Stock

Key Points

• Director James Hoyer purchased 95 City Holding shares at an average price of $134.55, increasing his direct ownership by 15.65% to 702 shares. The transaction was made under a pre-arranged Rule 10b5-1 plan.
• City Holding’s latest quarterly results beat expectations, with EPS of $2.35 versus the $2.23 consensus and revenue of $81.52 million versus $80.64 million expected.
• The company declared a quarterly dividend of $0.87 per share, equivalent to an annualized $3.48 payout and a 2.4% yield. Analysts maintain an average “Hold” rating with a $136.50 price target.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director James Hoyer bought 95 shares of the firm's stock in a transaction that occurred on Tuesday, July 21st. The stock was purchased at an average cost of $134.55 per share, with a total value of $12,782.25. Following the completion of the transaction, the director directly owned 702 shares in the company, valued at $94,454.10. This represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Performance

NASDAQ CHCO traded up $0.81 during trading on Tuesday, hitting $144.71. 78,753 shares of the company's stock traded hands, compared to its average volume of 117,854. The business has a 50 day moving average of $130.40 and a 200-day moving average of $125.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. City Holding Company has a 12-month low of $113.21 and a 12-month high of $146.66. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.84 and a beta of 0.49.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. The business had revenue of $81.52 million for the quarter, compared to analysts' expectations of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.38%. As a group, equities research analysts anticipate that City Holding Company will post 8.99 earnings per share for the current fiscal year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. City's dividend payout ratio (DPR) is presently 38.07%.

Institutional Trading of City

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in shares of City by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 2,740 shares of the bank's stock worth $327,000 after purchasing an additional 81 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in shares of City by 4.2% in the fourth quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank's stock worth $238,000 after buying an additional 81 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in City by 28.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank's stock valued at $61,000 after acquiring an additional 110 shares during the last quarter. R Squared Ltd boosted its holdings in shares of City by 6.6% during the 4th quarter. R Squared Ltd now owns 2,135 shares of the bank's stock worth $254,000 after purchasing an additional 132 shares during the last quarter. Finally, First Horizon Corp lifted its position in City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank's stock worth $29,000 after buying an additional 146 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHCO has been the topic of a number of research reports. Weiss Ratings raised City from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, July 16th. Hovde Group raised their target price on shares of City from $135.00 to $143.00 and gave the company a "market perform" rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, City currently has an average rating of "Hold" and an average price target of $136.50.

City Company Profile

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.

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