Robert Fisher Acquires 133 Shares of City (NASDAQ:CHCO) Stock

Key Points

• City director Robert Fisher purchased 133 shares on April 20 under a Rule 10b5-1 plan at an average price of $126.36 (total $16,805.88), bringing his direct holdings to 47,111 shares (a 0.28% increase, valued at about $5.95M).
• The board authorized a 1,000,000-share buyback and the company declared a quarterly dividend of $0.87 per share (annualized $3.48, yield ~2.8%; ex-dividend April 15, pay April 30).
• City recently missed quarterly estimates with EPS $2.18 vs. $2.29 consensus and revenue $60.83M vs. $81.38M, and the stock carries a consensus "Hold" rating with a $134.50 target (market cap ~$1.81B, P/E 14.11).

City Holding Company (NASDAQ:CHCO - Get Free Report) Director Robert Fisher acquired 133 shares of City stock in a transaction dated Monday, April 20th. The stock was bought at an average price of $126.36 per share, with a total value of $16,805.88. Following the completion of the purchase, the director directly owned 47,111 shares in the company, valued at $5,952,945.96. This represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Performance

Shares of NASDAQ:CHCO traded down $1.11 during midday trading on Monday, hitting $126.12. The company had a trading volume of 84,093 shares, compared to its average volume of 111,669. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 14.11 and a beta of 0.49. City Holding Company has a 12-month low of $111.99 and a 12-month high of $133.59. The company has a fifty day moving average of $122.23 and a two-hundred day moving average of $122.12.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a net margin of 32.56% and a return on equity of 16.61%. The company had revenue of $60.83 million for the quarter, compared to the consensus estimate of $81.38 million. On average, equities research analysts expect that City Holding Company will post 8.87 EPS for the current fiscal year.

City announced that its board has initiated a stock buyback plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

City Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 15th. City's payout ratio is currently 38.93%.

Institutional Investors Weigh In On City

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp grew its holdings in City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank's stock valued at $29,000 after buying an additional 146 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in City during the 4th quarter valued at approximately $29,000. Quarry LP purchased a new stake in City during the 3rd quarter valued at approximately $32,000. Simplex Trading LLC purchased a new stake in City during the 4th quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. grew its holdings in City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock valued at $46,000 after buying an additional 198 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of City from $125.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, January 23rd. Weiss Ratings reissued a "buy (b+)" rating on shares of City in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $134.50.

City Company Profile

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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