City (NASDAQ:CHCO) Director Javier Reyes Purchases 103 Shares

City Holding Company (NASDAQ:CHCO) Director Javier Reyes purchased 103 shares of the stock in a transaction on 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 in the company, valued at approximately $76,700.52. The trade was a 20.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Down 0.9%

City stock opened at $126.12 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. City Holding Company has a 52-week low of $111.99 and a 52-week high of $133.59. The firm has a 50 day moving average price of $122.20 and a two-hundred day moving average price of $122.15. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 14.11 and a beta of 0.49.

City (NASDAQ:CHCO) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.11). City had a return on equity of 16.61% and a net margin of 32.56%.The firm had revenue of $60.83 million for the quarter, compared to the consensus estimate of $81.38 million. Equities analysts predict that City Holding Company will post 8.87 EPS for the current year.

City announced that its Board of Directors has authorized a share buyback program on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders 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 yield of 2.8%. The ex-dividend date is Wednesday, April 15th. City’s dividend payout ratio (DPR) is presently 38.93%.

Hedge Funds Weigh In On City

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in shares of City by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock valued at $26,272,000 after purchasing an additional 22,536 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of City by 14.3% during the third quarter. Public Sector Pension Investment Board now owns 56,499 shares of the bank’s stock valued at $6,999,000 after purchasing an additional 7,081 shares during the period. Tudor Investment Corp ET AL raised its holdings in shares of City by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock valued at $9,543,000 after purchasing an additional 29,828 shares during the period. SG Americas Securities LLC raised its holdings in shares of City by 255.3% during the third quarter. SG Americas Securities LLC now owns 8,936 shares of the bank’s stock valued at $1,107,000 after purchasing an additional 6,421 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of City by 86.2% during the third quarter. Rafferty Asset Management LLC now owns 19,003 shares of the bank’s stock valued at $2,354,000 after purchasing an additional 8,795 shares during the period. 72.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHCO has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b+)” rating on shares of City in a report on Tuesday, December 23rd. Piper Sandler increased their price target on City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $134.50.

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.