City (NASDAQ:CHCO) Hits New 52-Week High – Still a Buy?

City Holding Company (NASDAQ:CHCO) hit a new 52-week high during trading on Thursday . The stock traded as high as $137.28 and last traded at $136.6420, with a volume of 100374 shares traded. The stock had previously closed at $134.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CHCO shares. Hovde Group lifted their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings restated a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $134.25.

City Stock Up 2.0%

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50 day simple moving average of $127.84 and a 200-day simple moving average of $124.52. The firm has a market cap of $1.93 billion, a PE ratio of 15.15 and a beta of 0.49.

City (NASDAQ:CHCO) last released its earnings results on Thursday, April 23rd. The bank reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.03. City had a return on equity of 16.58% and a net margin of 32.72%.The firm had revenue of $79.25 million for the quarter, compared to analysts’ expectations of $79.25 million. Sell-side analysts predict that City Holding Company will post 8.99 EPS for the current fiscal year.

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.87 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.5%. City’s payout ratio is presently 38.33%.

City announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 25th that permits the company to buyback 1,000,000 outstanding shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, EVP Jeffrey Dale Legge sold 1,309 shares of the company’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 transaction, the executive vice president owned 7,656 shares in the company, valued at approximately $957,000. This represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total transaction of $152,568.90. Following the completion of the transaction, the executive vice president owned 3,314 shares in the company, valued at approximately $417,862.26. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 455 shares of company stock valued at $57,018 and have sold 12,975 shares valued at $1,622,853. 1.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On City

Hedge funds have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its position in City by 4.2% in the 4th quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank’s stock worth $238,000 after buying an additional 81 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of City by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 2,740 shares of the bank’s stock valued at $327,000 after acquiring an additional 81 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of City by 28.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock valued at $61,000 after acquiring an additional 110 shares during the last quarter. R Squared Ltd grew its stake in shares of City by 6.6% in the fourth quarter. R Squared Ltd now owns 2,135 shares of the bank’s stock worth $254,000 after acquiring an additional 132 shares during the period. Finally, First Horizon Corp grew its stake in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after acquiring an additional 146 shares during the period. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

City Company Profile

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.