City (NASDAQ:CHCO) Reaches New 1-Year High – Time to Buy?

Shares of City Holding Company (NASDAQ:CHCO) hit a new 52-week high on Monday . The company traded as high as $147.56 and last traded at $146.5440, with a volume of 18751 shares trading hands. The stock had previously closed at $145.11.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of City from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 16th. Hovde Group raised their price target on shares of City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $136.50.

City Stock Up 0.3%

The firm’s fifty day simple moving average is $132.08 and its two-hundred day simple moving average is $126.10. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 15.92 and a beta of 0.49.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.38%. Sell-side analysts anticipate that City Holding Company will post 9.29 EPS for the current year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, July 15th. City’s dividend payout ratio is presently 38.07%.

Insider Buying and Selling

In other City news, CEO Charles R. Hageboeck sold 4,485 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the completion of the sale, the chief executive officer owned 43,998 shares of the company’s stock, valued at $6,377,950.08. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the sale, the executive vice president owned 7,656 shares in the company, valued at $957,000. This represents a 14.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 544 shares of company stock worth $71,900 and sold 10,020 shares worth $1,339,923. 1.75% of the stock is currently owned by company insiders.

Institutional Trading of City

Several institutional investors and hedge funds have recently bought and sold shares of CHCO. State Street Corp lifted its position in City by 1.0% in the second quarter. State Street Corp now owns 639,166 shares of the bank’s stock valued at $78,247,000 after buying an additional 6,371 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of City by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock valued at $70,740,000 after acquiring an additional 6,552 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of City by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock valued at $56,217,000 after acquiring an additional 8,992 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of City by 0.6% in the 4th quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock valued at $25,443,000 after acquiring an additional 1,354 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of City by 136.4% in the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock valued at $15,335,000 after acquiring an additional 71,436 shares during the period. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

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.