Insider Buying: City Holding (NASDAQ:CHCO) Director Purchases 120 Shares of Stock

City Holding (NASDAQ:CHCO) Director Diane W. Strong-Treister bought 120 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $116.72 per share, with a total value of $14,006.40. Following the completion of the transaction, the director now owns 3,247 shares of the company’s stock, valued at approximately $378,989.84. The trade was a 3.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

City Trading Down 0.4 %

Shares of NASDAQ CHCO opened at $118.70 on Friday. City Holding has a twelve month low of $99.63 and a twelve month high of $137.28. The firm has a market cap of $1.75 billion, a PE ratio of 15.04 and a beta of 0.52. The business has a fifty day simple moving average of $115.65 and a two-hundred day simple moving average of $120.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.22. City had a return on equity of 16.49% and a net margin of 30.83%. The firm had revenue of $74.55 million during the quarter, compared to the consensus estimate of $73.28 million. Analysts expect that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.66%. City’s dividend payout ratio is presently 39.60%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price objective on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, January 24th.

Hedge Funds Weigh In On City

A number of large investors have recently bought and sold shares of the business. CWM LLC increased its holdings in shares of City by 43.9% in the 1st quarter. CWM LLC now owns 282 shares of the bank’s stock valued at $33,000 after acquiring an additional 86 shares during the period. Guggenheim Capital LLC grew its stake in City by 1.3% in the fourth quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank’s stock valued at $1,047,000 after purchasing an additional 114 shares during the last quarter. Bessemer Group Inc. raised its holdings 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. PNC Financial Services Group Inc. lifted its position in shares of City by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock valued at $162,000 after buying an additional 131 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of City by 10.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank’s stock valued at $170,000 after buying an additional 140 shares in the last quarter. Institutional investors own 72.43% of the company’s stock.

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.