Tracy W. Hylton II Acquires 155 Shares of City Holding (CHCO) Stock

City Holding (NASDAQ:CHCO) Director Tracy W. Hylton II purchased 155 shares of City stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $69.91 per share, for a total transaction of $10,836.05. Following the completion of the transaction, the director now directly owns 31,140 shares in the company, valued at approximately $2,176,997.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of CHCO opened at $71.50 on Friday. City Holding has a 52-week low of $64.32 and a 52-week high of $83.27. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03.

City (NASDAQ:CHCO) last announced its earnings results on Monday, October 22nd. The bank reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.14. City had a return on equity of 15.11% and a net margin of 31.58%. The company had revenue of $51.31 million for the quarter, compared to analyst estimates of $49.58 million. Sell-side analysts expect that City Holding will post 4.98 earnings per share for the current fiscal year.



The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from City’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 12th. City’s dividend payout ratio is presently 53.81%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Calamos Advisors LLC acquired a new position in shares of City in the 3rd quarter valued at approximately $278,000. City Holding Co. raised its position in shares of City by 2.9% in the 3rd quarter. City Holding Co. now owns 437,444 shares of the bank’s stock valued at $33,591,000 after purchasing an additional 12,515 shares in the last quarter. Northern Trust Corp raised its position in shares of City by 0.6% in the 2nd quarter. Northern Trust Corp now owns 478,736 shares of the bank’s stock valued at $36,015,000 after purchasing an additional 2,866 shares in the last quarter. Zebra Capital Management LLC acquired a new position in shares of City in the 2nd quarter valued at approximately $460,000. Finally, Macquarie Group Ltd. raised its position in shares of City by 8.5% in the 2nd quarter. Macquarie Group Ltd. now owns 374,790 shares of the bank’s stock valued at $28,195,000 after purchasing an additional 29,235 shares in the last quarter. 66.88% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on CHCO shares. BidaskClub lowered City from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Thursday, August 9th. DA Davidson set a $77.00 price target on City and gave the stock a “buy” rating in a research report on Friday, July 13th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of City in a research report on Thursday, July 26th. Finally, ValuEngine lowered City from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $78.67.

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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.

Further Reading: Liquidity

Insider Buying and Selling by Quarter for City (NASDAQ:CHCO)

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