City (NASDAQ:CHCO) Director Javier Reyes Acquires 105 Shares

Key Points

• Director Javier Reyes acquired 105 shares of City Holding Company (NASDAQ: CHCO) at an average price of $117.23, increasing his total holdings to 1,812 shares.
• The company declared a quarterly dividend of $0.87 per share, which is an increase from the previous dividend of $0.79, indicating a healthy return for investors.
• In the most recent quarterly earnings report, City reported a EPS of $2.29, exceeding analyst expectations and demonstrating strong financial performance.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Javier Reyes bought 105 shares of the business's 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 $12,309.15. Following the completion of the transaction, the director directly owned 1,812 shares of the company's stock, valued at $212,420.76. This trade represents a 6.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

City Trading Up 1.3%

Shares of NASDAQ CHCO traded up $1.55 during mid-day trading on Friday, reaching $118.59. The company had a trading volume of 9,071 shares, compared to its average volume of 83,263. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.34 and a beta of 0.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20. The business's 50-day moving average is $124.67 and its 200-day moving average is $121.31. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28.

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

City Increases Dividend

The business also recently declared 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. This is a boost from City's previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. City's dividend payout ratio is 41.88%.

Institutional Trading of City

Large investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank's stock worth $78,247,000 after purchasing an additional 6,371 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of City by 24.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank's stock worth $74,192,000 after acquiring an additional 123,394 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of City by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock valued at $68,139,000 after purchasing an additional 29,302 shares during the period. City Holding Co. increased its holdings in City by 3.0% in the 2nd quarter. City Holding Co. now owns 263,664 shares of the bank's stock valued at $32,278,000 after acquiring an additional 7,636 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of City by 0.4% in the 2nd quarter. Axxcess Wealth Management LLC now owns 109,751 shares of the bank's stock worth $13,436,000 after buying an additional 485 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHCO has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of City in a research report on Wednesday, October 8th. Zacks Research cut City from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods upped their price target on City from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. DA Davidson increased their target price on City from $128.00 to $137.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Wall Street Zen lowered City from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, City has an average rating of "Hold" and a consensus price target of $133.25.

About City

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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