Javier Reyes Purchases 103 Shares of City (NASDAQ:CHCO) Stock

City Holding Company (NASDAQ:CHCO) Director Javier Reyes purchased 103 shares of the business’s stock in a transaction on Monday, April 20th. The stock was purchased at an average price of $126.36 per share, for a total transaction of $13,015.08. Following the acquisition, the director owned 607 shares of the company’s stock, valued at approximately $76,700.52. This represents a 20.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Down 0.6%

Shares of NASDAQ:CHCO opened at $125.33 on Wednesday. The business’s 50 day simple moving average is $122.15 and its two-hundred day simple moving average is $122.16. The firm has a market cap of $1.80 billion, a P/E ratio of 14.02 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. City Holding Company has a 52-week low of $112.88 and a 52-week high of $133.59.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.11). The company had revenue of $60.83 million during the quarter, compared to the consensus estimate of $81.38 million. City had a net margin of 32.56% and a return on equity of 16.61%. As a group, research analysts forecast that City Holding Company will post 8.87 EPS for the current fiscal year.

City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. City’s payout ratio is presently 38.93%.

City declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CHCO has been the topic of several analyst reports. Piper Sandler lifted their target price on City from $125.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, City presently has an average rating of “Hold” and an average target price of $134.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System bought a new stake in City during the first quarter worth $765,000. Virtu Financial LLC bought a new stake in City during the fourth quarter worth $1,353,000. Mercer Global Advisors Inc. ADV bought a new stake in City during the fourth quarter worth $202,000. XTX Topco Ltd bought a new stake in City during the fourth quarter worth $712,000. Finally, Zacks Investment Management lifted its holdings in City by 3.6% during the fourth quarter. Zacks Investment Management now owns 24,584 shares of the bank’s stock worth $2,930,000 after acquiring an additional 844 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.