City (NASDAQ:CHCO) Director Javier Reyes Acquires 103 Shares

Key Points

• Director Javier Reyes bought 103 shares on April 20 at an average price of $126.36 under a Rule 10b5-1 plan, bringing his total holding to 607 shares (a 20.44% increase) worth about $76,700.
• The board authorized a share buyback of up to 1,000,000 outstanding shares, signaling the company may view its stock as undervalued.
• City declared a quarterly dividend of $0.87 (annualized $3.48), with an ex-dividend date of April 15 and a yield of about 2.8%.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Javier Reyes acquired 103 shares of the firm's stock in a transaction on Monday, April 20th. The shares were bought at an average cost of $126.36 per share, for a total transaction of $13,015.08. Following the acquisition, the director owned 607 shares in the company, valued at approximately $76,700.52. The trade was a 20.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Trading Down 0.9%

City stock traded down $1.11 during mid-day trading on Monday, hitting $126.12. The stock had a trading volume of 84,093 shares, compared to its average volume of 111,669. The stock has a 50-day simple moving average of $122.23 and a two-hundred day simple moving average of $122.12. The stock has a market capitalization of $1.81 billion, a PE ratio of 14.11 and a beta of 0.49. City Holding Company has a 12 month low of $111.99 and a 12 month high of $133.59. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO - Get Free Report) last issued its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.61%. The business had revenue of $60.83 million during the quarter, compared to the consensus estimate of $81.38 million. As a group, sell-side analysts forecast that City Holding Company will post 8.87 EPS for the current year.

City declared that its board has authorized a stock repurchase program on Wednesday, March 25th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $3.48 annualized dividend and a yield of 2.8%. City's dividend payout ratio (DPR) is presently 38.93%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CHCO. Weiss Ratings reissued a "buy (b+)" rating on shares of City in a research note on Tuesday, December 23rd. Piper Sandler lifted their price objective on City from $125.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $134.50.

Institutional Trading of City

Institutional investors have recently modified their holdings of the company. First Horizon Corp lifted its holdings in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of City during the 4th quarter worth approximately $29,000. Quarry LP bought a new position in shares of City during the 3rd quarter worth approximately $32,000. Simplex Trading LLC bought a new position in shares of City during the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock worth $46,000 after acquiring an additional 198 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

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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