City (NASDAQ:CHCO) Hits New 1-Year High – Time to Buy?

City Holding Company (NASDAQ:CHCO)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $137.28 and last traded at $136.6420, with a volume of 100374 shares traded. The stock had previously closed at $134.38.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Hovde Group increased their target price on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Weiss Ratings raised City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, City has a consensus rating of “Hold” and an average target price of $134.25.

City Stock Down 1.4%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $1.92 billion, a P/E ratio of 14.95 and a beta of 0.49. The stock has a 50 day moving average price of $128.40 and a 200 day moving average price of $124.69.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.03. City had a net margin of 32.72% and a return on equity of 16.58%. The company had revenue of $79.25 million during the quarter, compared to analyst estimates of $79.25 million. Equities research analysts forecast that City Holding Company will post 8.99 earnings per share for the current fiscal year.

City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, July 15th. City’s dividend payout ratio (DPR) is currently 38.33%.

City declared that its board has authorized a stock repurchase program on Wednesday, March 25th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at City

In other City news, EVP Jeffrey Dale Legge sold 1,309 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the sale, the executive vice president directly owned 7,656 shares in the company, valued at $957,000. This represents a 14.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles R. Hageboeck sold 5,855 shares of City stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total value of $733,631.50. Following the sale, the chief executive officer owned 50,341 shares of the company’s stock, valued at approximately $6,307,727.30. This trade represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 455 shares of company stock valued at $57,018 and have sold 12,975 shares valued at $1,622,853. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of City

Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new stake in City in the fourth quarter worth approximately $29,000. First Horizon Corp raised its position in shares of City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after acquiring an additional 146 shares in the last quarter. Quarry LP bought a new position in City in the third quarter worth $32,000. Simplex Trading LLC bought a new position in shares of City in the 4th quarter worth about $36,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of City by 113.1% during the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

About City

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.