City Holding (NASDAQ:CHCO) Director James M. Parsons Acquires 2,200 Shares

City Holding (NASDAQ:CHCO) Director James M. Parsons bought 2,200 shares of the business’s stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $122.38 per share, with a total value of $269,236.00. Following the purchase, the director now owns 2,700 shares of the company’s stock, valued at $330,426. This represents a 440.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

City Stock Up 2.3%

Shares of CHCO opened at $121.48 on Tuesday. The firm has a market cap of $1.79 billion, a P/E ratio of 15.40 and a beta of 0.52. The stock has a 50 day simple moving average of $115.78 and a two-hundred day simple moving average of $120.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. City Holding has a 1 year low of $99.63 and a 1 year high of $137.28.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.22. City had a return on equity of 16.49% and a net margin of 30.83%. The firm had revenue of $74.55 million during the quarter, compared to the consensus estimate of $73.28 million. On average, analysts forecast that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a $0.79 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $3.16 annualized dividend and a yield of 2.60%. City’s payout ratio is currently 39.60%.

Institutional Trading of City

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board lifted its position in City by 27.0% in the first quarter. Public Sector Pension Investment Board now owns 46,576 shares of the bank’s stock valued at $5,471,000 after purchasing an additional 9,901 shares during the last quarter. Nuveen LLC bought a new stake in City in the first quarter valued at approximately $4,883,000. Invesco Ltd. lifted its position in City by 0.4% in the first quarter. Invesco Ltd. now owns 76,397 shares of the bank’s stock valued at $8,974,000 after purchasing an additional 297 shares during the last quarter. Deutsche Bank AG lifted its position in City by 81.6% in the first quarter. Deutsche Bank AG now owns 23,260 shares of the bank’s stock valued at $2,732,000 after purchasing an additional 10,450 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in City by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank’s stock valued at $68,139,000 after purchasing an additional 29,302 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler cut their target price on City from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, January 24th.

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.