Insider Buying: City Holding (NASDAQ:CHCO) Director Acquires 172 Shares of Stock

City Holding (NASDAQ:CHCO) Director Robert D. Fisher purchased 172 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were purchased at an average cost of $115.02 per share, for a total transaction of $19,783.44. Following the purchase, the director now directly owns 44,232 shares in the company, valued at approximately $5,087,564.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

City Price Performance

Shares of NASDAQ:CHCO opened at $118.50 on Friday. The business’s 50 day simple moving average is $115.86 and its 200-day simple moving average is $109.50. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 15.29 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.80 and a quick ratio of 0.80. City Holding has a 12 month low of $86.56 and a 12 month high of $125.54.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $1.96 EPS for the quarter, topping the consensus estimate of $1.88 by $0.08. City had a return on equity of 17.42% and a net margin of 32.12%. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $73.20 million. As a group, equities analysts forecast that City Holding will post 7.73 earnings per share for the current fiscal year.

City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.79 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.67%. This is a positive change from City’s previous quarterly dividend of $0.72. City’s dividend payout ratio is presently 36.90%.

Institutional Investors Weigh In On City

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in City by 95.8% in the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank’s stock valued at $25,000 after buying an additional 113 shares in the last quarter. Bessemer Group Inc. raised its holdings in City by 90.7% in the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank’s stock valued at $132,000 after acquiring an additional 604 shares during the last quarter. SG Americas Securities LLC acquired a new position in City in the 1st quarter valued at $180,000. Intech Investment Management LLC acquired a new position in City in the 2nd quarter valued at $208,000. Finally, Commonwealth Equity Services LLC raised its holdings in City by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.