City (NASDAQ:CHCO) Director Purchases $12,160.00 in Stock

City Holding Company (NASDAQ:CHCO) Director James Parsons bought 100 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $121.60 per share, for a total transaction of $12,160.00. Following the acquisition, the director directly owned 2,800 shares of the company’s stock, valued at approximately $340,480. This represents a 3.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

City Price Performance

Shares of CHCO stock traded down $0.49 during mid-day trading on Wednesday, hitting $121.12. The company had a trading volume of 51,737 shares, compared to its average volume of 107,865. City Holding Company has a 52-week low of $113.21 and a 52-week high of $133.59. The stock’s 50 day moving average price is $121.97 and its 200-day moving average price is $122.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.71 billion, a P/E ratio of 13.32 and a beta of 0.50.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The firm had revenue of $79.25 million for the quarter, compared to analysts’ expectations of $79.25 million. Equities research analysts forecast that City Holding Company will post 8.99 earnings per share for the current year.

City announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 25th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

City Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 15th. City’s payout ratio is 38.33%.

Hedge Funds Weigh In On City

Institutional investors have recently bought and sold shares of the business. First Horizon Corp lifted its position in City by 146.0% during the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of City in the fourth quarter valued at $29,000. Quarry LP purchased a new stake in shares of City in the third quarter valued at $32,000. Simplex Trading LLC purchased a new stake in shares of City in the fourth quarter valued at $36,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of 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 period. Institutional investors own 72.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CHCO. Hovde Group increased their price objective on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Piper Sandler increased their price objective on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, City presently has an average rating of “Hold” and a consensus target price of $134.25.

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.