City (NASDAQ:CHCO) Sees Large Volume Increase – Should You Buy?

City Holding Company (NASDAQ:CHCO) shares saw unusually-strong trading volume on Monday . Approximately 89,561 shares changed hands during trading, a decline of 18% from the previous session’s volume of 109,790 shares.The stock last traded at $122.3450 and had previously closed at $122.00.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, City currently has an average rating of “Hold” and a consensus price target of $134.50.

City Stock Up 0.7%

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.76 billion, a P/E ratio of 13.74 and a beta of 0.49. The firm’s 50 day moving average price is $121.83 and its two-hundred day moving average price is $122.01.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $81.38 million. Equities research analysts forecast that City Holding Company will post 7.58 EPS for the current year.

City Dividend Announcement

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

City declared that its board has approved a share buyback program on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Charles R. Hageboeck sold 1,275 shares of City stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $125.33, for a total value of $159,795.75. Following the sale, the chief executive officer owned 49,084 shares of the company’s stock, valued at approximately $6,151,697.72. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 553 shares of company stock valued at $64,082 over the last 90 days. 1.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. First Horizon Corp raised its stake in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in City during the fourth quarter worth $29,000. Quarry LP acquired a new position in City during the third quarter worth $32,000. Simplex Trading LLC bought a new stake in City during the fourth quarter worth $36,000. Finally, Geneos Wealth Management Inc. lifted its stake in City by 113.1% in the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after acquiring an additional 198 shares during the last quarter. 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 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.