City Holding (NASDAQ:CHCO) Director Purchases $18,470.97 in Stock

City Holding (NASDAQ:CHCO) Director Tracy W. Hylton II purchased 189 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was bought at an average cost of $97.73 per share, with a total value of $18,470.97. Following the completion of the acquisition, the director now directly owns 59,834 shares of the company’s stock, valued at $5,847,576.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

City Price Performance

NASDAQ:CHCO opened at $103.01 on Friday. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 13.54 and a beta of 0.51. City Holding has a 52-week low of $82.53 and a 52-week high of $115.89. The stock has a fifty day moving average of $101.59 and a 200 day moving average of $100.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.06). The business had revenue of $86.10 million for the quarter, compared to the consensus estimate of $72.50 million. City had a net margin of 33.31% and a return on equity of 18.62%. On average, research analysts expect that City Holding will post 7.43 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, April 12th. City’s dividend payout ratio is 37.58%.

Institutional Investors Weigh In On City

Several large investors have recently added to or reduced their stakes in CHCO. Norges Bank bought a new stake in City during the fourth quarter worth about $11,159,000. BlackRock Inc. lifted its stake in City by 4.6% during the first quarter. BlackRock Inc. now owns 2,207,372 shares of the bank’s stock worth $200,606,000 after purchasing an additional 97,296 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in City by 577.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 108,268 shares of the bank’s stock worth $11,938,000 after purchasing an additional 92,276 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in City by 229.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,403 shares of the bank’s stock worth $14,158,000 after purchasing an additional 89,408 shares during the last quarter. Finally, State Street Corp lifted its stake in City by 7.7% during the first quarter. State Street Corp now owns 650,417 shares of the bank’s stock worth $59,110,000 after purchasing an additional 46,239 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CHCO shares. Stephens raised their price target on City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Piper Sandler raised their price target on City from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st.

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.