City (NASDAQ:CHCO) Sees Unusually-High Trading Volume – Time to Buy?

City Holding Company (NASDAQ:CHCO) shares saw unusually-strong trading volume on Wednesday . Approximately 50,723 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 83,698 shares.The stock last traded at $122.4110 and had previously closed at $122.64.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHCO shares. Weiss Ratings restated a “buy (b)” rating on shares of City in a report on Wednesday, October 8th. Zacks Research downgraded shares of City from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, City currently has a consensus rating of “Hold” and a consensus target price of $133.25.

City Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a 50-day simple moving average of $121.34 and a 200-day simple moving average of $122.53. The stock has a market cap of $1.77 billion, a PE ratio of 14.09 and a beta of 0.54.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, October 22nd. The bank reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.26. City had a net margin of 32.33% and a return on equity of 16.66%. The firm had revenue of $61.29 million for the quarter, compared to analysts’ expectations of $80.17 million. Equities analysts predict that City Holding Company will post 7.58 earnings per share for the current fiscal year.

City Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were paid a $0.87 dividend. The ex-dividend date was Wednesday, October 15th. This is an increase from City’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is 40.00%.

Insider Transactions at City

In other City news, CEO Charles R. Hageboeck sold 2,017 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $120.68, for a total transaction of $243,411.56. Following the transaction, the chief executive officer owned 50,359 shares of the company’s stock, valued at approximately $6,077,324.12. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders purchased 416 shares of company stock valued at $48,768. Corporate insiders own 1.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quarry LP bought a new position in shares of City during the 3rd quarter valued at about $32,000. CWM LLC increased its holdings in shares of City by 43.9% in the first quarter. CWM LLC now owns 282 shares of the bank’s stock valued at $33,000 after buying an additional 86 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after acquiring an additional 198 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of City by 463.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $52,000 after acquiring an additional 352 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of City by 28.4% during the second quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after purchasing an additional 110 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

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.