Key Points
- Javier Reyes, a director, bought 103 shares of City Holding (NASDAQ:CHCO) on April 20 at $126.36 under a pre-arranged Rule 10b5-1 plan, raising his holdings to 607 shares (a 20.44% increase) for about $13,015.
- City declared a quarterly dividend of $0.87 per share (annualized $3.48) with an ex-dividend date of April 15 and payment on April 30, representing roughly a 2.8% yield.
- The board authorized a share repurchase program to buy up to 1,000,000 shares in the open market, a move typically interpreted as management signaling the shares may be undervalued.
City Holding Company (NASDAQ:CHCO - Get Free Report) Director Javier Reyes acquired 103 shares of the firm's stock in a transaction dated Monday, April 20th. The shares were purchased at an average price of $126.36 per share, with a total value of $13,015.08. Following the acquisition, the director owned 607 shares of the company's stock, valued at approximately $76,700.52. This represents a 20.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
City Trading Down 0.9%
NASDAQ CHCO opened at $126.12 on Tuesday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 14.11 and a beta of 0.49. City Holding Company has a 52 week low of $111.99 and a 52 week high of $133.59. The business has a 50 day moving average price of $122.20 and a 200-day moving average price of $122.15. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19.
City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.11). The firm had revenue of $60.83 million for the quarter, compared to the consensus estimate of $81.38 million. City had a net margin of 32.56% and a return on equity of 16.61%. As a group, equities analysts expect that City Holding Company will post 8.87 earnings per share for the current fiscal year.
City Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, April 15th. City's dividend payout ratio (DPR) is currently 38.93%.
City declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Institutional Trading of City
Institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new position in shares of City during the first quarter valued at about $765,000. Virtu Financial LLC bought a new position in shares of City during the fourth quarter valued at about $1,353,000. Mercer Global Advisors Inc. ADV bought a new position in shares of City during the fourth quarter valued at about $202,000. XTX Topco Ltd bought a new position in shares of City during the fourth quarter valued at about $712,000. Finally, Zacks Investment Management lifted its position in shares of City by 3.6% during the fourth quarter. Zacks Investment Management now owns 24,584 shares of the bank's stock valued at $2,930,000 after purchasing an additional 844 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on CHCO shares. Weiss Ratings reiterated a "buy (b+)" rating on shares of City in a report on Tuesday, December 23rd. Piper Sandler raised their target price on City from $125.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $134.50.
Read Our Latest Report on CHCO
About City
(
Get Free Report)
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.
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