City (NASDAQ:CHCO) Director Acquires 100 Shares of Company Stock

Key Points

• Director James Hoyer bought 100 City shares at an average price of $142.13, increasing his direct ownership by 14.25% to 802 shares. The purchase was made under a pre-arranged Rule 10b5-1 plan.
• City raised its quarterly dividend to $1.00 per share from $0.87, equating to an annualized dividend of $4.00 and a 2.8% yield.
• City’s latest quarterly results exceeded expectations, with EPS of $2.35 versus the $2.23 consensus and revenue of $81.52 million. Shares closed at $142.01, while analysts maintained an overall “Moderate Buy” rating with an average target of $139.33.

City Holding Company (NASDAQ:CHCO - Get Free Report) Director James Hoyer bought 100 shares of the firm's stock in a transaction dated Friday, October 23rd. The shares were bought at an average price of $142.13 per share, with a total value of $14,213.00. Following the completion of the transaction, the director directly owned 802 shares in the company, valued at approximately $113,988.26. This trade represents a 14.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Trading Down 1.0%

NASDAQ:CHCO traded down $1.39 on Friday, reaching $142.01. The company's stock had a trading volume of 112,363 shares, compared to its average volume of 115,985. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The business's 50-day moving average price is $142.62 and its two-hundred day moving average price is $134.86. City Holding Company has a 1-year low of $113.21 and a 1-year high of $148.99. The firm has a market cap of $2.00 billion, a PE ratio of 15.54 and a beta of 0.49.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly 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 firm 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 16.34% and a net margin of 32.58%. Equities research analysts anticipate that City Holding Company will post 9.32 earnings per share for the current fiscal year.

City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a $1.00 dividend. This is an increase from City's previous quarterly dividend of $0.87. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, October 15th. City's dividend payout ratio is 43.76%.

Institutional Trading of City

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in shares of City by 18.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank's stock valued at $63,000 after buying an additional 72 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of City by 4.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,934 shares of the bank's stock worth $389,000 after acquiring an additional 123 shares in the last quarter. GAMMA Investing LLC increased its stake in City by 10.4% in the third quarter. GAMMA Investing LLC now owns 1,321 shares of the bank's stock valued at $184,000 after acquiring an additional 124 shares during the last quarter. Allworth Financial LP lifted its stake in City by 294.1% during the second quarter. Allworth Financial LP now owns 201 shares of the bank's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in City by 8.9% during the second quarter. HB Wealth Management LLC now owns 2,364 shares of the bank's stock worth $314,000 after purchasing an additional 194 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CHCO shares. Keefe, Bruyette & Woods upped their price objective on City from $135.00 to $145.00 and gave the company a "market perform" rating in a report on Thursday, October 1st. Hovde Group raised their target price on shares of City from $135.00 to $143.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Finally, Weiss Ratings raised shares of City from a "buy (a-)" rating to a "buy (a)" rating in a report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $139.33.

City Company Profile

City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.

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