City Holding Company (NASDAQ:CHCO) Receives Average Rating of “Hold” from Analysts

City Holding Company (NASDAQ:CHCO) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $134.25.

Several equities research analysts recently commented on CHCO shares. Hovde Group lifted their price target on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th.

City Price Performance

Shares of CHCO opened at $123.68 on Tuesday. City has a twelve month low of $113.21 and a twelve month high of $133.59. The firm’s fifty day simple moving average is $123.36 and its 200-day simple moving average is $122.76. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 13.62 and a beta of 0.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The business had revenue of $79.25 million for the quarter, compared to analyst estimates of $79.25 million. Equities analysts forecast that City will post 8.99 EPS for the current fiscal year.

City announced that its Board of Directors has approved a stock buyback program on Wednesday, March 25th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, July 15th. City’s dividend payout ratio (DPR) is currently 38.33%.

Insider Activity at City

In other City news, CFO David L. Bumgarner sold 1,161 shares of City stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer directly owned 10,666 shares in the company, valued at approximately $1,327,917. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of City stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total transaction of $152,568.90. Following the completion of the transaction, the executive vice president owned 3,314 shares in the company, valued at approximately $417,862.26. This represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 1,008 shares of company stock valued at $121,099 and have sold 12,975 shares valued at $1,622,853. 1.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHCO. Two Sigma Investments LP increased 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 valued at $15,335,000 after purchasing an additional 71,436 shares during the period. Tudor Investment Corp ET AL increased its stake in City by 63.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the period. JPMorgan Chase & Co. increased its stake in City by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after purchasing an additional 22,536 shares during the period. Renaissance Technologies LLC increased its stake in City by 55.0% in the first quarter. Renaissance Technologies LLC now owns 61,686 shares of the bank’s stock valued at $7,373,000 after purchasing an additional 21,898 shares during the period. Finally, Marshall Wace LLP acquired a new position in City in the second quarter valued at $2,216,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

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.