City (NASDAQ:CHCO) Sees Large Volume Increase – Time to Buy?

City Holding Company (NASDAQ:CHCO) saw strong trading volume on Monday . Approximately 61,875 shares traded hands during trading, a decline of 46% from the previous session’s volume of 115,075 shares.The stock last traded at $135.4070 and had previously closed at $135.76.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Hovde Group lifted their price target on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $134.25.

City Trading Down 0.1%

The stock has a market cap of $1.91 billion, a PE ratio of 14.94 and a beta of 0.49. The business’s fifty day moving average is $128.40 and its 200 day moving average is $124.70. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19.

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

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.87 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.6%. City’s dividend payout ratio is currently 38.33%.

City declared that its board has authorized a stock repurchase plan on Wednesday, March 25th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at City

In other City news, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total transaction of $152,568.90. Following the sale, the executive vice president directly owned 3,314 shares in the company, valued at approximately $417,862.26. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles R. Hageboeck sold 5,855 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total value of $733,631.50. Following the completion of the sale, the chief executive officer directly owned 50,341 shares in the company, valued at $6,307,727.30. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 12,975 shares of company stock valued at $1,622,853. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On City

Several institutional investors and hedge funds have recently made changes to their positions in CHCO. First Horizon Corp grew its stake in City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in City during the fourth quarter worth about $29,000. Quarry LP purchased a new stake in shares of City in the third quarter valued at about $32,000. Simplex Trading LLC purchased a new stake in shares of City in the fourth quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. grew its position 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 purchasing an additional 198 shares during the last quarter. 72.43% of the stock is currently owned by hedge funds and other 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.