City (NASDAQ:CHCO) Director Purchases $12,160.00 in Stock

City Holding Company (NASDAQ:CHCO) Director James Parsons purchased 100 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $121.60 per share, with a total value of $12,160.00. Following the completion of the purchase, the director directly owned 2,800 shares of the company’s stock, valued at $340,480. The trade was a 3.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

City Stock Performance

City stock opened at $121.42 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.71 billion, a PE ratio of 13.37 and a beta of 0.50. The firm has a fifty day simple moving average of $122.00 and a two-hundred day simple moving average of $122.39. City Holding Company has a twelve month low of $113.21 and a twelve month high of $133.59.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.03. The business had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. Research analysts expect that City Holding Company will post 8.99 EPS for the current year.

City declared that its board has initiated a share repurchase plan on Wednesday, March 25th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th were given a $0.87 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. City’s payout ratio is presently 38.33%.

Hedge Funds Weigh In On City

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in City by 1.0% in the second quarter. State Street Corp now owns 639,166 shares of the bank’s stock worth $78,247,000 after buying an additional 6,371 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in City by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock worth $70,740,000 after buying an additional 6,552 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in City by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after buying an additional 8,992 shares in the last quarter. JPMorgan Chase & Co. raised its stake in City by 0.6% in the fourth quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock worth $25,443,000 after buying an additional 1,354 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after buying an additional 71,436 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Hovde Group boosted their price objective on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Piper Sandler raised their price target on City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $134.25.

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.