US stock futures edge lower after S&P 500 hits record high; PCE data in focus
File W H III, a director at City Holding Co (NASDAQ:CHCO), a regional bank with a market capitalization of $1.75 billion, recently purchased 108 shares of the company’s common stock, according to a recent SEC filing. The company has demonstrated strong performance with a 21.23% return over the past year. The transaction, executed under a Rule 10b5-1 Plan, was completed at a price of $119.85 per share, totaling approximately $12,943. Following the acquisition, File W H III holds 26,533 shares directly. Additionally, he indirectly owns 999 shares for his son, W H File IV. The company maintains a solid dividend yield of 2.64% and has raised its dividend for 13 consecutive years. InvestingPro analysis reveals 6 additional key insights about City Holding’s financial health and growth potential.
In other recent news, City Holding’s financial performance has captured attention with its recent earnings and revenue results. The company reported a fourth-quarter core earnings per share (EPS) of $2.11, surpassing Wall Street expectations by $0.19, largely due to reduced expenses and lower provisions for credit losses. Piper Sandler adjusted its price target for City Holding to $125 from $135, maintaining a Neutral rating, after the earnings report. Meanwhile, Keefe, Bruyette & Woods kept a Market Perform rating with a $130 price target, noting a mix of outcomes in the company’s performance, including a slight decline in Net Interest Margin (NIM) to 3.75%.
In another development, City Holding announced the passing of long-serving director Tracy W. Hylton II, who had been with the company since 1993. Mr. Hylton was instrumental in the 1998 merger of Horizon Bancorp (NASDAQ:HBNC) and City Holding Company and played a key role in the company’s turnaround in 2001. His contributions extended beyond banking, with involvement in various industries and community service. In his memory, City Holding donated $15,000 to a scholarship fund for students from coal-producing counties in southern West Virginia. These recent developments reflect the company’s ongoing adjustments and community commitments.
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