City (NASDAQ:CHCO) Sees Large Volume Increase – Should You Buy?

Shares of City Holding Company (NASDAQ:CHCO) saw strong trading volume on Wednesday . 99,589 shares were traded during trading, a decline of 11% from the previous session’s volume of 112,295 shares.The stock last traded at $131.47 and had previously closed at $132.78.

Analyst Upgrades and Downgrades

CHCO has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. Hovde Group increased their price target 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. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $134.25.

City Trading Down 0.4%

The firm’s 50-day simple moving average is $126.70 and its 200-day simple moving average is $124.15. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.87 billion, a PE ratio of 14.62 and a beta of 0.49.

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

City Announces Dividend

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

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

Insider Activity

In other City news, CFO David L. Bumgarner sold 1,161 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total value of $144,544.50. Following the sale, the chief financial officer owned 10,666 shares of the company’s stock, valued at $1,327,917. This trade represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total transaction of $163,625.00. Following the completion of the transaction, the executive vice president owned 7,656 shares in the company, valued at $957,000. The trade was a 14.60% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders purchased 455 shares of company stock valued at $57,018 and sold 12,975 shares valued at $1,622,853. 1.75% of the stock is owned by company insiders.

Institutional Trading of City

Several large investors have recently modified their holdings of the business. State Street Corp raised its position in City by 1.0% during the 2nd quarter. State Street Corp now owns 639,166 shares of the bank’s stock valued at $78,247,000 after purchasing an additional 6,371 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of City by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,455 shares of the bank’s stock valued at $70,740,000 after buying an additional 6,552 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of City by 1.9% during the first 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. JPMorgan Chase & Co. raised its holdings in shares of City by 0.6% during the fourth quarter. JPMorgan Chase & Co. now owns 213,447 shares of the bank’s stock valued at $25,443,000 after acquiring an additional 1,354 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in City by 136.4% in the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock worth $15,335,000 after acquiring an additional 71,436 shares during the period. 72.43% of the stock is owned by institutional investors.

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.