City Holding Company (NASDAQ:CHCO) Director Diane W. Strong-Treister Acquires 102 Shares

Key Points

• Director Diane W. Strong-Treister of City Holding Company purchased 102 shares at an average price of $127.05, increasing her stake in the company by 3.14%.
• City Holding Company reported earnings of $2.29 EPS for the quarter, exceeding analysts' expectations of $1.97, alongside a return on equity of 16.30%.
• The company recently announced a quarterly dividend of $0.79, resulting in an annualized dividend of $3.16 with a yield of 2.52%.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Diane W. Strong-Treister acquired 102 shares of the stock in a transaction dated Monday, July 28th. The stock was acquired at an average price of $127.05 per share, for a total transaction of $12,959.10. Following the purchase, the director directly owned 3,349 shares in the company, valued at approximately $425,490.45. This trade represents a 3.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

City Stock Down 1.1%

Shares of CHCO stock traded down $1.34 on Friday, hitting $120.76. The stock had a trading volume of 124,320 shares, compared to its average volume of 154,531. The business has a 50 day moving average price of $122.17 and a 200 day moving average price of $119.01. City Holding Company has a one year low of $102.22 and a one year high of $137.28. The company has a quick ratio of 0.83, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.75 billion, a PE ratio of 14.53 and a beta of 0.56.

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

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 15th. City's dividend payout ratio (DPR) is presently 38.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of City from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. 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 report on Wednesday, July 23rd. Hovde Group raised their target price on shares of City from $130.00 to $136.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Finally, DA Davidson raised their price target on City from $128.00 to $137.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, City has a consensus rating of "Hold" and an average target price of $133.25.

Institutional Trading of City

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in City by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank's stock worth $1,481,000 after purchasing an additional 893 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in City by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,981 shares of the bank's stock worth $1,408,000 after purchasing an additional 1,340 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in City by 6.9% during the first 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 during the last quarter. Bessemer Group Inc. lifted its stake in City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank's stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in City by 18.4% during the first quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank's stock worth $525,000 after purchasing an additional 693 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

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.