City Holding Company (NASDAQ:CHCO – Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $133.78 and last traded at $132.9720, with a volume of 23942 shares. The stock had previously closed at $132.72.
Analyst Ratings Changes
A number of research analysts have weighed in on CHCO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. Hovde Group increased their price target on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, City currently has a consensus rating of “Hold” and a consensus target price of $134.25.
Get Our Latest Stock Analysis on CHCO
City Price Performance
City (NASDAQ:CHCO – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.03. The company had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. Research analysts forecast that City Holding Company will post 8.99 earnings per share for the current year.
City Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.6%. City’s dividend payout ratio (DPR) is presently 38.33%.
City announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 25th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In related news, EVP Jeffrey Dale Legge sold 1,309 shares of the firm’s 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 of the company’s stock, valued at $957,000. This trade represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles R. Hageboeck sold 5,855 shares of City stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $125.30, for a total transaction 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. The trade was a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 455 shares of company stock worth $57,018 and sold 12,975 shares worth $1,622,853. 1.75% of the stock is owned by corporate insiders.
Institutional Trading of City
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Corp lifted its holdings in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after acquiring an additional 146 shares during the last quarter. Kestra Advisory Services LLC bought a new position in City in the fourth quarter valued at $29,000. Quarry LP bought a new position in City in the third quarter valued at $32,000. Simplex Trading LLC purchased a new stake in City during the fourth quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. raised its position in 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. Hedge funds and other institutional investors own 72.43% of the company’s stock.
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.
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