Diane W. Strong-Treister Buys 120 Shares of City Holding (NASDAQ:CHCO) Stock

City Holding (NASDAQ:CHCO) Director Diane W. Strong-Treister acquired 120 shares of City stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $116.72 per share, with a total value of $14,006.40. Following the completion of the purchase, the director now owns 3,247 shares of the company’s stock, valued at approximately $378,989.84. This represents a 3.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

City Trading Down 0.4 %

City stock opened at $118.70 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50 day moving average price is $115.65 and its 200-day moving average price is $120.05. City Holding has a 1 year low of $99.63 and a 1 year high of $137.28. The stock has a market cap of $1.75 billion, a P/E ratio of 15.04 and a beta of 0.52.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 EPS for the quarter, beating the consensus estimate of $1.84 by $0.22. City had a net margin of 30.83% and a return on equity of 16.49%. The business had revenue of $74.55 million during the quarter, compared to the consensus estimate of $73.28 million. On average, equities analysts predict that City Holding will post 7.58 earnings per share for the current fiscal year.

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, April 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.66%. City’s dividend payout ratio (DPR) is 39.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in City by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank’s stock valued at $1,481,000 after purchasing an additional 893 shares in the last quarter. Barclays PLC increased its holdings in shares of City by 125.3% in the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock worth $3,385,000 after buying an additional 16,044 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of City by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after acquiring an additional 404 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in City in the fourth quarter worth about $227,000. Finally, Charles Schwab Investment Management Inc. increased its stake in City by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock worth $65,253,000 after acquiring an additional 22,226 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th.

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.