In a recent transaction, Burton Gregory A, a director at City Holding Co (NASDAQ:CHCO), purchased shares of the company's common stock. The transaction, which took place on April 16, 2024, involved the acquisition of 146 shares at a price of $97.73 each, amounting to a total investment of over $14,268.
This purchase was made pursuant to a Rule 10b5-1 Plan, as indicated in the footnotes of the filing. Rule 10b5-1 plans allow insiders to set up a predetermined plan to buy or sell company stock at a time when they are not in possession of material non-public information, providing a defense against claims of insider trading.
Following this transaction, Burton Gregory A's ownership in City Holding Co has increased to a total of 1,736 shares of common stock.
Investors often monitor insider transactions as they provide insights into how executives and directors view the company's stock value and future prospects. The purchase by a director might be seen as a sign of confidence in the bank's future performance.
City Holding Co, based in Charleston, West Virginia, operates in the national commercial banks sector and is known for providing various banking services and products.
The reported transaction was filed with the Securities and Exchange Commission on April 18, 2024, and is publicly accessible through the SEC's database.
InvestingPro Insights
Recent insider activity at City Holding Co (NASDAQ:CHCO) suggests a positive outlook from those within the company. Burton Gregory A's acquisition of additional shares aligns with the broader sentiment indicated by InvestingPro Tips, which highlight that City Holding Co has raised its dividend for 12 consecutive years and has maintained dividend payments for 23 consecutive years. These tips underscore the company's commitment to shareholder returns and a stable financial performance.
From a data perspective, City Holding Co's market capitalization stands at $1.47 billion, with a Price/Earnings (P/E) ratio of 12.97, which adjusted for the last twelve months as of Q4 2023, is slightly lower at 12.55. This suggests a reasonable valuation relative to earnings. Additionally, the company has experienced a revenue growth of 13.91% in the last twelve months as of Q4 2023, indicating a solid top-line expansion.
Investors considering City Holding Co for their portfolio can also take note of the company's dividend yield, which as of the latest data, stands at 2.9%. This, coupled with a 10% dividend growth in the last twelve months as of Q4 2023, may appeal to those looking for income-generating investments.
For those seeking more in-depth analysis and additional InvestingPro Tips, visit InvestingPro for a comprehensive look at City Holding Co. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, where you'll find a total of 6 additional tips for CHCO to help inform your investment decisions.
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