Insider Buying: City Holding (NASDAQ:CHCO) Director Purchases 189 Shares of Stock

City Holding (NASDAQ:CHCO) Director Tracy W. Hylton II acquired 189 shares of the stock in a transaction dated Tuesday, April 16th. The stock was acquired at an average price of $97.73 per share, with a total value of $18,470.97. Following the completion of the acquisition, the director now owns 59,834 shares in the company, valued at approximately $5,847,576.82. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

City Trading Up 1.0 %

NASDAQ:CHCO traded up $1.02 during midday trading on Thursday, reaching $99.72. 13,635 shares of the stock traded hands, compared to its average volume of 60,976. The company has a fifty day moving average of $101.56 and a 200 day moving average of $100.66. City Holding has a 12 month low of $82.53 and a 12 month 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. The stock has a market capitalization of $1.48 billion, a P/E ratio of 13.02 and a beta of 0.51.

City (NASDAQ:CHCO) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $72.50 million. On average, research analysts predict that City Holding will post 7.43 EPS for the current year.

City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $0.715 per share. The ex-dividend date is Friday, April 12th. This represents a $2.86 dividend on an annualized basis and a yield of 2.87%. City’s dividend payout ratio is currently 37.58%.

Institutional Investors Weigh In On City

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHCO. Envestnet Asset Management Inc. raised its holdings in City by 10.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,818 shares of the bank’s stock valued at $379,000 after buying an additional 454 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in City by 80.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 655 shares of the bank’s stock worth $52,000 after purchasing an additional 292 shares in the last quarter. Citigroup Inc. raised its holdings in City by 11.4% in the 1st quarter. Citigroup Inc. now owns 13,392 shares of the bank’s stock worth $1,054,000 after purchasing an additional 1,369 shares in the last quarter. Bank of Montreal Can raised its holdings in City by 201.2% in the 1st quarter. Bank of Montreal Can now owns 11,791 shares of the bank’s stock worth $942,000 after purchasing an additional 7,876 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in City by 55.8% in the 1st quarter. MetLife Investment Management LLC now owns 7,410 shares of the bank’s stock worth $583,000 after purchasing an additional 2,653 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHCO shares. Stephens boosted their price objective on shares of City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Piper Sandler boosted their price objective on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st.

About City

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.