Insider Buying: City (NASDAQ:CHCO) Director Purchases $14,800.50 in Stock

City Holding Company (NASDAQ:CHCO) Director Diane Strong-Treister bought 110 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was purchased at an average cost of $134.55 per share, with a total value of $14,800.50. Following the completion of the transaction, the director directly owned 4,097 shares in the company, valued at $551,251.35. This represents a 2.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Price Performance

Shares of City stock traded up $0.81 on Tuesday, hitting $144.71. 78,753 shares of the company traded hands, compared to its average volume of 117,854. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $130.40 and its 200 day simple moving average is $125.46. The company has a market cap of $2.04 billion, a P/E ratio of 15.84 and a beta of 0.49. City Holding Company has a 12-month low of $113.21 and a 12-month high of $146.66.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. City had a return on equity of 16.38% and a net margin of 32.58%.The firm had revenue of $81.52 million for the quarter, compared to analysts’ expectations of $80.64 million. Analysts expect that City Holding Company will post 8.99 earnings per share for the current fiscal year.

City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s payout ratio is presently 38.07%.

Hedge Funds Weigh In On City

A number of hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL lifted its stake in City by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the last quarter. Virtu Financial LLC acquired a new stake in City during the fourth quarter worth approximately $1,353,000. Louisiana State Employees Retirement System acquired a new position in shares of City during the first quarter worth $765,000. Geneos Wealth Management Inc. lifted its holdings in City by 93.1% in the first quarter. Geneos Wealth Management Inc. now owns 676 shares of the bank’s stock valued at $81,000 after buying an additional 326 shares during the period. Finally, Commonwealth Financial Services LLC acquired a new position in City during the first quarter worth $373,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CHCO shares. Weiss Ratings raised shares of City from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, July 16th. Hovde Group upped their target price on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Monday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $136.50.

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.