Insider Buying: City Holding Company (NASDAQ:CHCO) Director Acquires 90 Shares of Stock

City Holding Company (NASDAQ:CHCO) Director Javier A. Reyes acquired 90 shares of the stock in a transaction dated Monday, July 28th. The stock was bought at an average cost of $127.05 per share, with a total value of $11,434.50. Following the completion of the purchase, the director directly owned 1,707 shares in the company, valued at approximately $216,874.35. The trade was a 5.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

City Stock Performance

Shares of City stock opened at $123.83 on Thursday. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28. The company has a market capitalization of $1.79 billion, a PE ratio of 14.90 and a beta of 0.54. The stock’s fifty day moving average is $122.05 and its two-hundred day moving average is $118.95. The company has a quick ratio of 0.83, a current ratio of 0.81 and a debt-to-equity ratio of 0.20.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.32. The firm had revenue of $78.16 million for the quarter, compared to analysts’ expectations of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.30%. As a group, analysts expect that City Holding Company will post 7.58 earnings per share for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.55%. City’s dividend payout ratio is currently 38.03%.

Institutional Trading of City

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. grew its stake in City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. CWM LLC lifted its holdings in shares of City by 43.9% in the 1st quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after buying an additional 86 shares during the period. Sterling Capital Management LLC grew its position in shares of City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock worth $50,000 after buying an additional 375 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of City by 69.0% during the second quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock valued at $67,000 after buying an additional 223 shares during the period. Finally, First United Bank & Trust bought a new stake in shares of City in the first quarter valued at about $78,000. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CHCO shares. DA Davidson increased their price target on City from $128.00 to $137.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their target price on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded shares of City from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Hovde Group upped their price target on shares of City from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $133.25.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.