Robert Fisher Buys 183 Shares of City (NASDAQ:CHCO) Stock

City Holding Company (NASDAQ:CHCO) Director Robert Fisher bought 183 shares of the stock in a transaction dated Thursday, October 16th. The shares were acquired at an average price of $117.23 per share, with a total value of $21,453.09. Following the completion of the purchase, the director directly owned 46,019 shares of the company’s stock, valued at approximately $5,394,807.37. This represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

City Stock Up 2.0%

Shares of City stock opened at $119.42 on Friday. The business has a 50-day moving average of $124.65 and a 200-day moving average of $121.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $1.73 billion, a PE ratio of 14.37 and a beta of 0.53. City Holding Company has a 1-year low of $102.22 and a 1-year high of $137.28.

City (NASDAQ:CHCO) last announced its earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.32. The company had revenue of $78.16 million during the quarter, compared to the consensus estimate of $76.10 million. City had a return on equity of 16.30% and a net margin of 31.35%. As a group, equities analysts forecast that City Holding Company will post 7.58 EPS for the current fiscal year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.87 per share. This is a boost from City’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, October 15th. City’s payout ratio is 41.88%.

Hedge Funds Weigh In On City

A number of large investors have recently bought and sold shares of CHCO. SG Americas Securities LLC bought a new position in City in the first quarter worth about $326,000. Wealth Enhancement Advisory Services LLC lifted its holdings in City by 82.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,226 shares of the bank’s stock worth $1,319,000 after acquiring an additional 5,088 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in City by 18.4% in the first quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank’s stock worth $525,000 after acquiring an additional 693 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in City by 6.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,651 shares of the bank’s stock worth $546,000 after acquiring an additional 301 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on City from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 23rd. Hovde Group lifted their price target on City from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 23rd. Finally, DA Davidson lifted their price target on City from $128.00 to $137.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, City currently has a consensus rating of “Hold” and an average target price of $133.25.

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.