Insider Buying: City Holding Company (NASDAQ:CHCO) Director Purchases 102 Shares of Stock

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 bought 102 shares of the stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $127.05 per share, for a total transaction of $12,959.10. Following the purchase, the director owned 3,349 shares of the company's stock, valued at $425,490.45. This trade represents a 3.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

City Trading Down 1.0%

CHCO traded down $1.25 during midday trading on Tuesday, hitting $125.41. 96,136 shares of the company were exchanged, compared to its average volume of 82,402. The firm has a market capitalization of $1.82 billion, a P/E ratio of 15.09 and a beta of 0.54. City Holding Company has a 1-year low of $102.22 and a 1-year high of $137.28. The firm's 50 day moving average price is $121.90 and its 200-day moving average price is $118.88. The company has a quick ratio of 0.83, a current ratio of 0.81 and a debt-to-equity ratio of 0.20.

City (NASDAQ:CHCO - Get Free Report) last issued its 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. City had a return on equity of 16.30% and a net margin of 31.35%. The business had revenue of $78.16 million during the quarter, compared to analyst estimates of $76.10 million. As a group, equities analysts forecast that City Holding Company will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, July 15th. City's dividend payout ratio (DPR) is presently 38.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CHCO shares. Hovde Group raised their price objective on City from $130.00 to $136.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 23rd. DA Davidson raised their target price on City from $128.00 to $137.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods raised their target price on City from $125.00 to $135.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised City from a "sell" rating to a "hold" rating in a report on Saturday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $133.25.

Institutional Trading of City

Several institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. grew its stake in shares of City by 24.3% in 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of City by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank's stock valued at $68,139,000 after acquiring an additional 29,302 shares in the last quarter. City Holding Co. grew its holdings in shares of City by 3.0% in the second 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of City by 24.2% in the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock valued at $31,071,000 after acquiring an additional 51,055 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of City by 2.3% in the fourth quarter. Northern Trust Corp now owns 178,962 shares of the bank's stock valued at $21,203,000 after acquiring an additional 3,944 shares in the last quarter. Institutional investors own 72.43% of the company's stock.

City Company Profile

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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