Key Points
- Director Robert Fisher purchased 165 City Holding shares at an average price of $142.13, investing $23,451.45 under a pre-arranged Rule 10b5-1 plan. His direct ownership rose to 47,877 shares.
- City reported quarterly EPS of $2.35, exceeding the $2.23 analyst consensus, while revenue of $81.52 million also topped estimates. The stock opened at $142.01, with a market capitalization of approximately $1.99 billion.
- The company increased its quarterly dividend from $0.87 to $1.00 per share, implying an annualized dividend of $4.00 and a 2.8% yield. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $139.33.
City Holding Company (NASDAQ:CHCO - Get Free Report) Director Javier Reyes acquired 95 shares of the business's stock in a transaction on Friday, October 23rd. The shares were bought at an average cost of $142.13 per share, with a total value of $13,502.35. Following the completion of the acquisition, the director owned 2,463 shares of the company's stock, valued at approximately $350,066.19. This trade represents a 4.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
City Price Performance
NASDAQ CHCO traded down $1.39 on Friday, hitting $142.01. 112,878 shares of the company were exchanged, compared to its average volume of 113,058. The company has a market cap of $1.99 billion, a P/E ratio of 15.54 and a beta of 0.49. City Holding Company has a 1-year low of $113.21 and a 1-year 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 firm has a 50 day moving average of $142.51 and a two-hundred day moving average of $134.91.
City (NASDAQ:CHCO - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $81.52 million for the quarter, compared to the consensus estimate of $80.64 million. On average, equities analysts predict that City Holding Company will post 9.32 EPS for the current year.
City Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, October 15th. This is a boost from City's previous quarterly dividend of $0.87. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. City's dividend payout ratio is 43.76%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Weiss Ratings raised shares of City from a "buy (a-)" rating to a "buy (a)" rating in a report on Friday, October 16th. Keefe, Bruyette & Woods raised their price target on shares of City from $135.00 to $145.00 and gave the company a "market perform" rating in a research note on Thursday, October 1st. Finally, Hovde Group lifted their price target on shares of City from $135.00 to $143.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.33.
Get Our Latest Stock Report on CHCO
Hedge Funds Weigh In On City
A number of institutional investors and hedge funds have recently made changes to their positions in CHCO. Nisa Investment Advisors LLC grew its stake in City by 18.8% in the third quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank's stock valued at $63,000 after acquiring an additional 72 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of City by 4.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,934 shares of the bank's stock worth $389,000 after purchasing an additional 123 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of City by 10.4% in the third quarter. GAMMA Investing LLC now owns 1,321 shares of the bank's stock valued at $184,000 after purchasing an additional 124 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of City by 294.1% in the second quarter. Allworth Financial LP now owns 201 shares of the bank's stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of City by 8.9% during the second quarter. HB Wealth Management LLC now owns 2,364 shares of the bank's stock valued at $314,000 after buying an additional 194 shares during the last quarter. Institutional investors own 72.43% of the company's stock.
About City
(
Get Free Report)
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.
Read More
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].
