City (NASDAQ:CHCO) Stock: Insider James Hoyer Buys 100 Shares

City Holding Company (NASDAQ:CHCO) Director James Hoyer bought 100 shares of the company’s stock in a transaction dated Friday, October 23rd. The stock was bought at an average price of $142.13 per share, with a total value of $14,213.00. Following the acquisition, the director owned 802 shares in the company, valued at approximately $113,988.26. This trade represents a 14.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Performance

NASDAQ:CHCO opened at $142.01 on Friday. The stock’s fifty day moving average is $142.51 and its 200 day moving average is $134.91. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $148.99. The firm has a market capitalization of $2.00 billion, a PE ratio of 15.54 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

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

City Increases Dividend

The company 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 $1.00 dividend. This is an increase from City’s previous quarterly dividend of $0.87. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, October 15th. City’s payout ratio is currently 43.76%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in City in the 2nd quarter worth about $270,231,000. Dimensional Fund Advisors LP lifted its holdings in City by 1.9% during the 1st 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 bought a new stake in City during the 2nd quarter valued at about $15,012,000. Principal Financial Group Inc. boosted its position in City by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock valued at $8,398,000 after buying an additional 1,460 shares during the period. Finally, First Trust Advisors LP boosted its position in City by 35.2% in the 1st quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock valued at $7,374,000 after buying an additional 16,060 shares during the period. 72.43% of the stock is currently owned by institutional investors.

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.