Insider Buying: City (NASDAQ:CHCO) Director Buys $12,309.15 in Stock

City Holding Company (NASDAQ:CHCO) Director Javier Reyes acquired 105 shares of the stock in a transaction dated Thursday, October 16th. The stock was purchased at an average cost of $117.23 per share, with a total value of $12,309.15. Following the purchase, the director directly owned 1,812 shares of the company’s stock, valued at $212,420.76. This trade represents a 6.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

City Stock Up 2.0%

NASDAQ:CHCO opened at $119.42 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. City Holding Company has a one year low of $102.22 and a one year high of $137.28. The company has a market cap of $1.73 billion, a PE ratio of 14.37 and a beta of 0.53. The firm’s 50 day simple moving average is $124.65 and its 200 day simple moving average is $121.40.

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

City Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CHCO shares. Weiss Ratings restated a “buy (b)” rating on shares of City in a report on Wednesday, October 8th. DA Davidson raised their price objective on City from $128.00 to $137.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods lifted their price objective on shares of City from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Finally, Zacks Research lowered City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, City currently has an average rating of “Hold” and an average price target of $133.25.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. grew its stake in City by 24.3% during the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank’s stock valued at $74,192,000 after acquiring an additional 123,394 shares in the last quarter. Nuveen LLC bought a new stake in City during the first quarter valued at $4,883,000. Charles Schwab Investment Management Inc. increased its stake in City by 5.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank’s stock worth $68,139,000 after acquiring an additional 29,302 shares during the last quarter. TrueMark Investments LLC bought a new position in City in the 2nd quarter worth about $2,249,000. Finally, Marshall Wace LLP purchased a new stake in shares of City in the 2nd quarter valued at about $2,216,000. Institutional investors own 72.43% of the company’s stock.

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.