City holding co director buys $10.9k in stock

CITY HOLDING CO (NASDAQ:CHCO) reported a notable stock purchase by director Gregory A. Burton, according to a recent filing with the Securities and Exchange Commission. Burton acquired 98 shares of the company's common stock at a price of $110.83 per share, marking a total investment of $10,861.

The transaction, which took place on August 12, 2024, was executed pursuant to a Rule 10b5-1 Plan, as indicated in the footnotes of the filing. This plan allows company insiders to set up a predetermined schedule for buying and selling shares at a time when they are not in possession of material non-public information, to avoid accusations of insider trading.

Following this purchase, Burton's total holdings in CITY HOLDING CO have increased to 1,834 shares. The acquisition reflects confidence in the company's future prospects and aligns with the interests of shareholders.

Investors often monitor insider transactions as they can provide insights into the company's performance and management's expectations. Burton's role as a director places him in a position to understand the company's inner workings, making his investment decisions particularly noteworthy to current and potential investors.

CITY HOLDING CO, headquartered in Charleston, West Virginia, operates within the national commercial banks sector, providing various banking services to consumers and businesses alike. The company's stock performance and management transactions continue to be a point of interest for those following the financial sector.

In other recent news, City Holding Company (NASDAQ:CHCO), a bank holding firm, has announced the expansion of its board with the appointment of Major General (retired) James A. Hoyer. This appointment increases the board's size from 13 to 14 members, with Hoyer set to serve as a Class II director until 2028. Hoyer's diverse educational background and extensive military service, which includes a decade as The Adjutant General for the State of West Virginia, are expected to add significant value to the board's existing expertise.

In addition to his military career, Hoyer has held positions at West Virginia University and serves on the board of Fidelis New Energy LLC. His appointment to City Holding Company's board will be confirmed by shareholders at the annual meeting in April 2025. These are recent developments that highlight the company's commitment to leadership expansion and risk management.

InvestingPro Insights

As CITY HOLDING CO (NASDAQ:CHCO) attracts attention with insider stock purchases, the company's financial health and market performance provide additional context for investors. According to InvestingPro data, CITY HOLDING CO has a market capitalization of $1.63 billion and trades with a price-to-earnings (P/E) ratio of 14.3. This valuation comes amidst a moderate revenue growth of 2.36% in the last twelve months as of Q2 2024, signaling steady financial progress.

InvestingPro Tips suggest that CITY HOLDING CO has demonstrated a commitment to shareholder returns, having consistently raised its dividend for 12 consecutive years and maintained dividend payments for 23 years. This could be a sign of the company's stability and a potential draw for income-focused investors. Moreover, analysts have revised their earnings expectations upwards for the upcoming period, indicating a positive outlook on CITY HOLDING CO's profitability.

For investors seeking more in-depth analysis, there are additional InvestingPro Tips available on CITY HOLDING CO's profile, offering further insights into the company's performance and potential investment opportunities.

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