City (NASDAQ:CHCO) Director Robert Fisher Acquires 183 Shares

City Holding Company (NASDAQ:CHCO) Director Robert Fisher purchased 183 shares of the stock in a transaction dated Thursday, October 16th. The shares were bought at an average price of $117.23 per share, for a total transaction of $21,453.09. Following the completion of the acquisition, the director owned 46,019 shares in the company, valued at $5,394,807.37. This represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

City Trading Up 2.0%

City stock opened at $119.42 on Friday. The company’s fifty day simple moving average is $124.65 and its 200-day simple moving average is $121.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. City Holding Company has a 12 month low of $102.22 and a 12 month high of $137.28. The stock has a market cap of $1.73 billion, a P/E ratio of 14.37 and a beta of 0.53.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, beating the consensus estimate of $1.97 by $0.32. City had a net margin of 31.35% and a return on equity of 16.30%. The business had revenue of $78.16 million for the quarter, compared to analysts’ expectations of $76.10 million. As a group, sell-side analysts forecast that City Holding Company will post 7.58 EPS for the current fiscal year.

City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.87 per share. The ex-dividend date is Wednesday, October 15th. This represents a $3.48 annualized dividend and a dividend yield of 2.9%. This is an increase from City’s previous quarterly dividend of $0.79. City’s dividend payout ratio is presently 41.88%.

Institutional Investors Weigh In On City

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in City by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,981 shares of the bank’s stock valued at $1,408,000 after acquiring an additional 1,340 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in City by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,651 shares of the bank’s stock valued at $546,000 after acquiring an additional 301 shares during the period. Bessemer Group Inc. boosted its holdings in City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock valued at $33,000 after acquiring an additional 115 shares during the period. QRG Capital Management Inc. boosted its holdings in City by 18.4% during the first quarter. QRG Capital Management Inc. now owns 4,468 shares of the bank’s stock valued at $525,000 after acquiring an additional 693 shares during the period. Finally, SG Americas Securities LLC bought a new stake in City during the first quarter valued at about $326,000. 72.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHCO has been the topic of several research analyst reports. Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Zacks Research cut shares of City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a report on Wednesday, October 8th. Hovde Group upped their price objective on shares of City from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Finally, DA Davidson upped their price objective on shares of City from $128.00 to $137.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $133.25.

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.