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Diane Strong-Treister, a director at City Holding Co (NASDAQ:CHCO), recently acquired shares worth $13,902 in the company. The regional bank, with a market capitalization of $1.75 billion, has demonstrated strong financial performance with a P/E ratio of 15.08. According to InvestingPro analysis, the stock is currently trading near its Fair Value. According to a recent SEC filing, Strong-Treister purchased 116 shares of common stock at a price of $119.85 each. This transaction was made under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for buying or selling stock. Following this acquisition, Strong-Treister’s direct ownership in City Holding Co increased to 2,861 shares. Additionally, she holds 1,900 shares indirectly through a trust. The company offers a 2.64% dividend yield and has maintained dividend payments for 24 consecutive years, with InvestingPro data revealing over 5 additional key insights about the company’s financial health.
In other recent news, City Holding has reported a mixed performance in its latest financial results. The company exceeded expectations in core earnings per share (EPS), with a reported $1.94 for the fourth quarter, adjusted to $2.11 after accounting for securities losses. This performance surpassed both Piper Sandler’s estimate by $0.15 and the consensus among Wall Street analysts by $0.19, largely due to lower expenses and a smaller provision for credit losses. However, the net interest margin (NIM) fell by 12 basis points to 3.75%, slightly below the anticipated 3.85%.
Piper Sandler has revised its price target for City Holding, reducing it from $135 to $125 while maintaining a Neutral rating. Meanwhile, Keefe, Bruyette & Woods continues to hold a Market Perform rating with a steady price target of $130, noting the mix of positive and negative outcomes in the company’s recent performance. In other developments, City Holding announced the passing of long-serving director Tracy W. Hylton II, who played a significant role in the company’s history, including the 1998 merger with Horizon Bancorp (NASDAQ:HBNC). The company has honored his legacy by donating $15,000 to a scholarship fund he established.
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