City (NASDAQ:CHCO) Director Robert Fisher Acquires 183 Shares

Key Points

• Director Robert Fisher of City Holding Company acquired 183 shares at an average price of $117.23, increasing his total ownership to 46,019 shares valued at approximately $5.39 million.
• City Holding Company has declared a quarterly dividend of $0.87 per share, up from $0.79, representing a dividend yield of 2.9%.
• The company recently reported better-than-expected earnings with an EPS of $2.29, surpassing analysts' estimates of $1.97, along with a revenue of $78.16 million.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Robert Fisher bought 183 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, for a total transaction of $21,453.09. Following the completion of the transaction, the director owned 46,019 shares in the company, valued at $5,394,807.37. This trade represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

City Trading Up 1.3%

Shares of NASDAQ:CHCO traded up $1.55 during mid-day trading on Friday, hitting $118.59. The company had a trading volume of 9,071 shares, compared to its average volume of 83,263. The firm has a fifty day moving average price of $124.67 and a 200 day moving average price of $121.31. The company has a market capitalization of $1.72 billion, a PE ratio of 14.34 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. City Holding Company has a one year low of $102.22 and a one year high of $137.28.

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

City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be given 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 is Wednesday, October 15th. City's dividend payout ratio (DPR) is currently 41.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHCO. 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 report on Thursday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of City in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on City from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Wednesday, July 23rd. Zacks Research downgraded City from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Finally, Hovde Group raised their target price on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, City has an average rating of "Hold" and a consensus price target of $133.25.

Institutional Investors Weigh In On City

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHCO. SG Americas Securities LLC purchased a new position in City during the first quarter valued at approximately $326,000. Wealth Enhancement Advisory Services LLC raised its position in City by 82.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,226 shares of the bank's stock valued at $1,319,000 after acquiring an additional 5,088 shares in the last quarter. QRG Capital Management Inc. raised its position in City by 18.4% during the first quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank's stock valued at $525,000 after acquiring an additional 693 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in City by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,651 shares of the bank's stock valued at $546,000 after acquiring an additional 301 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock valued at $33,000 after acquiring an additional 115 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

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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