City (NASDAQ:CHCO) Director Acquires $16,805.88 in Stock

City Holding Company (NASDAQ:CHCO) Director Robert Fisher acquired 133 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were acquired at an average cost of $126.36 per share, for a total transaction of $16,805.88. Following the purchase, the director directly owned 47,111 shares of the company’s stock, 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Trading Down 0.8%

NASDAQ:CHCO opened at $124.38 on Thursday. City Holding Company has a one year low of $113.21 and a one year high of $133.59. 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’s 50-day simple moving average is $122.12 and its 200 day simple moving average is $122.18. The firm has a market capitalization of $1.79 billion, a P/E ratio of 13.91 and a beta of 0.49.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a return on equity of 16.61% and a net margin of 32.56%.The business had revenue of $60.83 million for the quarter, compared to the consensus estimate of $81.38 million. As a group, analysts forecast that City Holding Company will post 8.87 EPS for the current fiscal year.

City announced that its board has approved a stock repurchase program on Wednesday, March 25th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $3.48 annualized dividend and a yield of 2.8%. City’s payout ratio is presently 38.93%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of City by 11.9% during 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 last quarter. Public Sector Pension Investment Board raised its holdings in shares of City by 14.3% during the third quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock valued at $6,999,000 after purchasing an additional 7,081 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of City by 63.2% during 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 last quarter. SG Americas Securities LLC raised its holdings in shares of City by 255.3% during the third quarter. SG Americas Securities LLC now owns 8,936 shares of the bank’s stock valued at $1,107,000 after purchasing an additional 6,421 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of City by 86.2% during the third quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock valued at $2,354,000 after purchasing an additional 8,795 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their target price on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, City presently has an average rating of “Hold” and an average price target 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.