Insider Buying: City (NASDAQ:CHCO) Director Acquires $14,800.50 in Stock

Key Points

• Director Diane Strong-Treister bought 110 City Holding shares at $134.55 each, investing $14,800.50 and increasing her direct ownership by 2.76% to 4,097 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 plan.
• City exceeded quarterly expectations, reporting $2.35 in earnings per share versus the $2.23 consensus and revenue of $81.52 million compared with $80.64 million expected.
• The company declared a quarterly dividend of $0.87 per share, equivalent to a $3.48 annualized payout and a 2.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $136.50.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Diane Strong-Treister acquired 110 shares of the company's stock in a transaction dated Tuesday, July 21st. The stock was acquired at an average price of $134.55 per share, for a total transaction of $14,800.50. Following the completion of the purchase, the director directly owned 4,097 shares of the company's stock, valued at $551,251.35. This trade represents a 2.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Trading Up 0.6%

NASDAQ CHCO traded up $0.81 on Tuesday, reaching $144.71. The company had a trading volume of 78,753 shares, compared to its average volume of 117,854. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 15.84 and a beta of 0.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. City Holding Company has a 52 week low of $113.21 and a 52 week high of $146.66. The stock's 50 day moving average is $130.40 and its 200-day moving average is $125.46.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The company had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. City had a return on equity of 16.38% and a net margin of 32.58%. Equities analysts predict that City Holding Company will post 8.99 earnings per share for the current year.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.87 per share. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.4%. City's payout ratio is currently 38.07%.

Institutional Investors Weigh In On City

Large investors have recently modified their holdings of the stock. Ledgewood Wealth Advisors LLC purchased a new stake in City during the 2nd quarter valued at about $202,000. GAMMA Investing LLC boosted its position in City by 38.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,197 shares of the bank's stock valued at $159,000 after purchasing an additional 333 shares during the period. Amundi boosted its stake in shares of City by 37.7% during the 1st quarter. Amundi now owns 2,794 shares of the bank's stock valued at $334,000 after buying an additional 765 shares during the period. Quantinno Capital Management LP grew its position in shares of City by 41.3% in the first quarter. Quantinno Capital Management LP now owns 8,429 shares of the bank's stock valued at $1,008,000 after purchasing an additional 2,465 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in City by 55.0% in the 1st quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank's stock valued at $7,373,000 after buying an additional 21,898 shares during the period. Hedge funds and other institutional investors own 72.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CHCO shares. Hovde Group increased their target price on City from $135.00 to $143.00 and gave the stock a "market perform" rating in a research note on Monday. Weiss Ratings upgraded shares of City from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $136.50.

About City

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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