City (NASDAQ:CHCO) Director Diane Strong-Treister Purchases 120 Shares of Stock

City Holding Company (NASDAQ:CHCO) Director Diane Strong-Treister purchased 120 shares of City stock in a transaction dated Friday, October 23rd. The stock was acquired at an average price of $142.13 per share, for a total transaction of $17,055.60. Following the completion of the transaction, the director owned 4,217 shares in the company, valued at approximately $599,362.21. The trade was a 2.93% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

City Stock Performance

Shares of NASDAQ:CHCO traded down $1.39 during trading on Friday, reaching $142.01. 112,878 shares of the company’s stock traded hands, compared to its average volume of 113,058. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. City Holding Company has a 12 month low of $113.21 and a 12 month high of $148.99. The company has a 50 day moving average of $142.51 and a 200-day moving average of $134.91. The stock has a market capitalization of $1.99 billion, a P/E ratio of 15.54 and a beta of 0.49.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. City had a return on equity of 16.34% and a net margin of 32.58%. On average, equities analysts expect that City Holding Company will post 9.32 EPS for the current year.

City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $1.00 dividend. This is a boost from City’s previous quarterly dividend of $0.87. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, October 15th. City’s dividend payout ratio is 43.76%.

Institutional Trading of City

A number of institutional investors have recently made changes to their positions in CHCO. Allworth Financial LP acquired a new position in shares of City during the 2nd quarter valued at about $27,000. Archer Investment Corp bought a new stake in City during the second quarter worth approximately $49,000. Sterling Capital Management LLC boosted its position in City by 223.6% during the third quarter. Sterling Capital Management LLC now owns 398 shares of the bank’s stock worth $55,000 after purchasing an additional 275 shares during the period. Global Retirement Partners LLC acquired a new position in City during the second quarter valued at approximately $58,000. Finally, Nisa Investment Advisors LLC grew its holdings in City by 18.8% during the third quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank’s stock valued at $63,000 after purchasing an additional 72 shares during the last quarter. 72.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CHCO. Keefe, Bruyette & Woods upped their price target on shares of City from $135.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, October 1st. Weiss Ratings upgraded shares of City from a “buy (a-)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Finally, Hovde Group boosted their target price on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, City currently has a consensus rating of “Moderate Buy” and an average target price of $139.33.

City Company Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.