CITY HOLDING CO (NASDAQ:CHCO) has seen a recent purchase of shares by company director Robert D. Fisher, according to the latest filings. Fisher acquired 172 shares of common stock at a price of $115.0241 each, totaling an investment of $19,784.
This transaction, completed on October 10, 2024, adds to Fisher's already substantial holding in the company. Following the purchase, he now owns a total of 44,232.3946 shares in CITY HOLDING CO. Notably, the acquisition was made under a Rule 10b5-1 Plan, which allows company insiders to set up a trading plan for selling or buying stocks at a predetermined time.
The transaction also reflects Fisher's participation in the company's dividend reinvestment plan, which has contributed 626.5694 shares to his holdings over the year, as indicated by the most recent plan statement.
Investors often monitor insider transactions as they can provide insights into how the company's executives and directors view the stock's value. Fisher's decision to increase his stake in CITY HOLDING CO is a move that will be watched closely by the market.
CITY HOLDING CO, headquartered in Charleston, WV, operates within the national commercial banks sector and continues to be a significant player in the financial industry.
In other recent news, City Holding Company (NASDAQ:CHCO), a bank holding firm, has made a significant addition to its Board of Directors. The company announced the immediate appointment of Major General (retired) James A. Hoyer. This expansion takes the Board from 13 to 14 members, with Hoyer anticipated to serve as a Class II director until 2028.
Hoyer boasts an impressive educational background with degrees from the University of Charleston, West Virginia Graduate College, and the US Army War College. His military service includes a decade as The Adjutant General for the State of West Virginia, and he has held numerous roles at West Virginia University in his post-military career.
These recent developments also include Hoyer's expected election by shareholders at the annual meeting in 2025. His leadership and risk management skills were highlighted by Dallas Kayser, Chairman of the Board of City Holding Company, as key qualities that will enhance the Board's existing expertise.
InvestingPro Insights
Robert D. Fisher's recent purchase of CITY HOLDING CO (NASDAQ:CHCO) shares aligns with several positive indicators highlighted by InvestingPro. The company has demonstrated a strong commitment to shareholder returns, with InvestingPro Tips revealing that CHCO has raised its dividend for 13 consecutive years and maintained dividend payments for 23 consecutive years. This consistent dividend growth, coupled with a current dividend yield of 2.74%, underscores the company's financial stability and shareholder-friendly policies.
The company's financial health is further reflected in its profitability, as InvestingPro Data shows a P/E ratio of 14.79, which is relatively modest for the banking sector. Additionally, CHCO has been profitable over the last twelve months, with a robust operating income margin of 51.37% as of the last twelve months ending Q2 2024.
Despite these strengths, investors should note that CHCO is trading at a high P/E ratio relative to its near-term earnings growth, according to another InvestingPro Tip. This suggests that while the company has a solid foundation, its current valuation may be pricing in significant future growth expectations.
For those interested in a deeper analysis, InvestingPro offers 7 additional tips for CITY HOLDING CO, providing a more comprehensive view of the company's financial position and market outlook.
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