City Holding (NASDAQ:CHCO) Director Buys $18,470.97 in Stock

City Holding (NASDAQ:CHCO) Director Tracy W. Hylton II bought 189 shares of City stock in a transaction dated Tuesday, April 16th. The stock was acquired at an average cost of $97.73 per share, for a total transaction of $18,470.97. Following the completion of the acquisition, the director now directly owns 59,834 shares in the company, valued at $5,847,576.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

City Stock Performance

Shares of City stock opened at $103.01 on Friday. The firm has a fifty day moving average of $101.59 and a two-hundred day moving average of $100.74. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 13.54 and a beta of 0.51. City Holding has a 52 week low of $82.53 and a 52 week high of $115.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). City had a net margin of 33.31% and a return on equity of 18.62%. The firm had revenue of $86.10 million during the quarter, compared to the consensus estimate of $72.50 million. As a group, equities research analysts predict that City Holding will post 7.43 EPS for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, April 12th. City’s payout ratio is presently 37.58%.

Analyst Ratings Changes

Several brokerages have recently commented on CHCO. Piper Sandler boosted their target price on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Stephens upped their price objective on City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th.

Hedge Funds Weigh In On City

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in City by 229.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 128,403 shares of the bank’s stock worth $14,158,000 after purchasing an additional 89,408 shares during the period. Virtu Financial LLC acquired a new position in City in the 4th quarter worth $599,000. Price T Rowe Associates Inc. MD boosted its stake in City by 10.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,521 shares of the bank’s stock worth $1,161,000 after purchasing an additional 983 shares during the period. Barclays PLC boosted its stake in City by 65.4% in the 4th quarter. Barclays PLC now owns 32,135 shares of the bank’s stock worth $3,543,000 after purchasing an additional 12,706 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in City by 1.8% in the 4th quarter. Nuveen Asset Management LLC now owns 39,283 shares of the bank’s stock worth $4,331,000 after purchasing an additional 683 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

City Company Profile

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.