Key Points
- Director James Parsons bought 100 shares of City Holding (NASDAQ:CHCO) at $121.60 each, increasing his holdings to 2,800 shares. The purchase was disclosed in an SEC filing and represented a 3.7% increase in his ownership.
- City Holding recently reported better-than-expected quarterly earnings, posting EPS of $2.20 versus estimates of $2.17, while revenue matched forecasts at $79.25 million. Analysts now expect full-year EPS of 8.99.
- The bank also pays a 2.9% dividend yield and has authorized a share repurchase plan for up to 1 million shares, signaling confidence from management in the stock’s value.
City Holding Company (NASDAQ:CHCO - Get Free Report) Director James Parsons acquired 100 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $121.60 per share, with a total value of $12,160.00. Following the completion of the purchase, the director directly owned 2,800 shares in the company, valued at approximately $340,480. The trade was a 3.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
City Price Performance
NASDAQ:CHCO opened at $121.54 on Thursday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.39 and a beta of 0.50. City Holding Company has a 1 year low of $113.21 and a 1 year high of $133.59. The business has a 50 day simple moving average of $121.98 and a 200-day simple moving average of $122.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.03. The business had revenue of $79.25 million during the quarter, compared to analyst estimates of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. Equities analysts forecast that City Holding Company will post 8.99 EPS for the current year.
City Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 15th. City's dividend payout ratio (DPR) is presently 38.33%.
City announced that its board has initiated a stock repurchase plan on Wednesday, March 25th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price objective on City from $125.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, January 23rd. Hovde Group raised their price objective on City from $133.00 to $135.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, City has an average rating of "Hold" and an average target price of $134.25.
Read Our Latest Research Report on City
Institutional Trading of City
Several institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP boosted its stake in shares of City by 136.4% during the third quarter. Two Sigma Investments LP now owns 123,803 shares of the bank's stock valued at $15,335,000 after purchasing an additional 71,436 shares during the period. Tudor Investment Corp ET AL increased its stake in City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank's stock worth $9,543,000 after buying an additional 29,828 shares during the period. JPMorgan Chase & Co. increased its stake in City by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank's stock worth $26,272,000 after buying an additional 22,536 shares during the period. Marshall Wace LLP bought a new stake in City during the 2nd quarter valued at about $2,216,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in City during the 4th quarter valued at about $2,157,000. 72.43% of the stock is currently owned by institutional investors.
City Company Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
