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

City Holding Company (NASDAQ:CHCO) has received a consensus rating of “Hold” from the six analysts that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $134.25.

CHCO has been the topic of a number of research analyst reports. Weiss Ratings upgraded City from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, July 16th. Hovde Group raised their price target on City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th.

City Price Performance

Shares of NASDAQ:CHCO opened at $134.99 on Wednesday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 14.87 and a beta of 0.49. 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 business’s 50 day simple moving average is $128.96 and its 200-day simple moving average is $124.91. City has a 12 month low of $113.21 and a 12 month high of $138.18.

City (NASDAQ:CHCO) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.03. The firm had revenue of $79.25 million during the quarter, compared to the consensus estimate of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. As a group, equities analysts forecast that City will post 8.99 earnings per share for the current fiscal year.

City announced that its Board of Directors has approved a share buyback plan on Wednesday, March 25th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

City Dividend Announcement

The firm also recently disclosed 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. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s dividend payout ratio is presently 38.33%.

Insider Buying and Selling at City

In other City news, EVP Jeffrey Dale Legge sold 1,309 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the sale, the executive vice president owned 7,656 shares of the company’s stock, valued at $957,000. This represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the sale, the chief financial officer owned 10,666 shares in the company, valued at $1,327,917. This represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 12,975 shares of company stock valued at $1,622,853. Insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On City

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in City by 5.6% during the first quarter. Royal Bank of Canada now owns 15,586 shares of the bank’s stock worth $1,831,000 after buying an additional 821 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of City by 34.5% in the first quarter. AQR Capital Management LLC now owns 8,977 shares of the bank’s stock valued at $1,055,000 after acquiring an additional 2,305 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of City by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank’s stock valued at $1,014,000 after acquiring an additional 387 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of City during the first quarter valued at $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of City by 7.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank’s stock valued at $4,497,000 after acquiring an additional 2,603 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

About City

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.