City (NASDAQ:CHCO) Stock: Insider Robert Fisher Purchases 165 Shares

City Holding Company (NASDAQ:CHCO) Director Robert Fisher bought 165 shares of City stock in a transaction that occurred on Friday, October 23rd. The stock was purchased at an average cost of $142.13 per share, for a total transaction of $23,451.45. Following the acquisition, the director owned 47,877 shares of the company’s stock, valued at $6,804,758.01. This represents a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Price Performance

City stock opened at $142.01 on Friday. City Holding Company has a 12-month low of $113.21 and a 12-month high of $148.99. 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 stock has a market cap of $2.00 billion, a P/E ratio of 15.54 and a beta of 0.49. The company has a fifty day simple moving average of $142.51 and a 200-day simple moving average of $134.91.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. City had a return on equity of 16.34% and a net margin of 32.58%. Equities 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. Investors of record on Thursday, October 15th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, October 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. This is a boost 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 equities research analysts have weighed in on the company. Hovde Group boosted their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of City from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of City from $135.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, City presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.33.

Hedge Funds Weigh In On City

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in City in the 2nd quarter valued at approximately $270,231,000. Dimensional Fund Advisors LP raised its holdings in City by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock worth $56,217,000 after purchasing an additional 8,992 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in City during the second quarter worth $15,012,000. Principal Financial Group Inc. boosted its position in City by 2.1% during the first quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock worth $8,398,000 after purchasing an additional 1,460 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in City by 35.2% in the first quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock valued at $7,374,000 after purchasing an additional 16,060 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

About City

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.