City (NASDAQ:CHCO) Director Javier Reyes Purchases 95 Shares of Company Stock

City Holding Company (NASDAQ:CHCO) Director Javier Reyes purchased 95 shares of City stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average price of $142.13 per share, for a total transaction of $13,502.35. Following the transaction, the director directly owned 2,463 shares of the company’s stock, valued at $350,066.19. The trade was a 4.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Trading Down 1.0%

Shares of City stock traded down $1.39 during trading on Friday, hitting $142.01. The stock had a trading volume of 112,878 shares, compared to its average volume of 113,058. The firm’s fifty day simple moving average is $142.51 and its 200-day simple moving average is $134.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $1.99 billion, a PE ratio of 15.54 and a beta of 0.49. City Holding Company has a 12 month low of $113.21 and a 12 month high of $148.99.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The business had revenue of $81.52 million for the quarter, compared to analyst estimates of $80.64 million. As a group, sell-side analysts expect that City Holding Company will post 9.32 EPS for the current fiscal year.

City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be issued a $1.00 dividend. The ex-dividend date is Thursday, October 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from City’s previous quarterly dividend of $0.87. City’s dividend payout ratio (DPR) is 43.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on City from $135.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, October 1st. Weiss Ratings raised City from a “buy (a-)” rating to a “buy (a)” rating in a research note on Friday, October 16th. Finally, Hovde Group boosted their price target on shares of City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.33.

Institutional Investors Weigh In On City

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of City in the second quarter valued at approximately $270,231,000. Dimensional Fund Advisors LP raised its position in shares of City by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock valued at $56,217,000 after acquiring an additional 8,992 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in City in the second quarter valued at $15,012,000. Principal Financial Group Inc. raised its position in shares of City by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock worth $8,398,000 after buying an additional 1,460 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in City by 35.2% during the first quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock worth $7,374,000 after buying an additional 16,060 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Company Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.