TSX seen lower ahead of Canadian GDP, U.S. PCE data
Robert D. Fisher, a director at City Holding Co. (NASDAQ:CHCO), a $1.75 billion market cap financial institution with a solid track record of shareholder returns, recently executed a purchase of 191 shares of the company’s common stock. According to InvestingPro analysis, the company currently trades at a P/E of 15.08 and shows signs of being slightly undervalued. The transaction, which took place on March 25, was conducted at a price of $119.85 per share, amounting to a total value of $22,891. This purchase was made under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell or buy stocks. Following this transaction, Fisher now holds 44,856.9163 shares of City Holding Co. stock. Notably, this total includes shares acquired through the company’s dividend reinvestment plan, which has maintained payments for 24 consecutive years with a current yield of 2.64%. Want deeper insights into insider trading patterns and 12+ additional exclusive tips? Check out InvestingPro for comprehensive analysis and real-time updates.
In other recent news, City Holding’s fourth-quarter earnings report revealed that its core earnings per share (EPS) surpassed analyst expectations, driven by lower expenses and reduced provisions for credit losses. The company reported a core EPS of $2.11, exceeding Piper Sandler’s estimate by $0.15 and the Wall Street consensus by $0.19. Despite the positive earnings results, Piper Sandler adjusted its price target for City Holding from $135 to $125, maintaining a Neutral rating. Keefe, Bruyette & Woods also maintained a Market Perform rating on City Holding with a steady price target of $130, noting a mix of outcomes in the company’s recent performance.
The company’s Net Interest Margin (NIM) decreased by 12 basis points to 3.75%, which was below expectations, but the impact was mitigated by robust growth. City Holding’s performance benefited from higher fees, lower expenses, and a smaller provision for credit losses, further supported by strong credit metrics. In other developments, City Holding announced the passing of long-serving director Tracy W. Hylton II, who had been with the company since 1993 and played a pivotal role in its growth and success. Mr. Hylton was also known for his business expertise beyond banking and his dedication to community service.
In his memory, City Holding donated $15,000 to a scholarship fund he established, which supports students from coal-producing counties in southern West Virginia.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.