City (NASDAQ:CHCO) Director Javier Reyes Purchases 95 Shares of Company Stock

City Holding Company (NASDAQ:CHCO) Director Javier Reyes purchased 95 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average price of $142.13 per share, for a total transaction of $13,502.35. Following the purchase, the director owned 2,463 shares of the company’s stock, valued at approximately $350,066.19. This represents a 4.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Down 1.0%

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. City Holding Company has a 1 year low of $113.21 and a 1 year high of $148.99. The business’s 50 day moving average is $142.62 and its 200 day moving average is $134.86. 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 stock has a market cap of $2.00 billion, a price-to-earnings ratio of 15.54 and a beta of 0.49.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. City had a return on equity of 16.34% and a net margin of 32.58%. The company had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. As a group, research analysts forecast that City Holding Company will post 9.32 EPS for the current fiscal year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a dividend of $1.00 per share. This is an increase from City’s previous quarterly dividend of $0.87. The ex-dividend date is Thursday, October 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is currently 43.76%.

Hedge Funds Weigh In On City

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in City in the second quarter valued at about $270,231,000. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 8,992 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in City during the second quarter valued at approximately $15,012,000. Principal Financial Group Inc. lifted its holdings in City by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock worth $8,398,000 after buying an additional 1,460 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in City by 35.2% during the 1st quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock worth $7,374,000 after buying an additional 16,060 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Weiss Ratings upgraded shares of City from a “buy (a-)” rating to a “buy (a)” rating in a research note on Friday, October 16th. Keefe, Bruyette & Woods upped their price target on shares of City from $135.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, October 1st. Finally, Hovde Group increased their price objective on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.33.

About City

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.