City Holding Company (NASDAQ:CHCO) Receives Consensus Rating of “Hold” from Analysts

City Holding Company (NASDAQ:CHCO) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $134.25.

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th. Hovde Group lifted their price objective on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th.

Insider Transactions at City

In related news, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $126.09, for a total value of $152,568.90. Following the transaction, the executive vice president owned 3,314 shares of the company’s stock, valued at $417,862.26. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was 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 $957,000. The trade was a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 455 shares of company stock worth $57,018 and have sold 12,975 shares worth $1,622,853. Company insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On City

Several hedge funds have recently modified their holdings of CHCO. First Horizon Corp lifted its holdings in shares of City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after buying an additional 146 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of City during the 4th quarter worth $29,000. Quarry LP acquired a new position in City in the third quarter valued at approximately $32,000. Simplex Trading LLC acquired a new position in City in the fourth quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. increased its holdings in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Price Performance

City stock opened at $134.02 on Friday. City has a 12-month low of $113.21 and a 12-month high of $134.92. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $125.56 and a 200-day moving average price of $123.72. The firm has a market capitalization of $1.89 billion, a PE ratio of 14.76 and a beta of 0.49.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share 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 analyst estimates of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. As a group, equities research analysts forecast that City will post 8.99 EPS for the current year.

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s payout ratio is currently 38.33%.

City announced that its board has authorized a stock buyback plan on Wednesday, March 25th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.