Barr E S & Co. Decreases Stock Holdings in City Holding (NASDAQ:CHCO)

Barr E S & Co. trimmed its holdings in City Holding (NASDAQ:CHCO - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,700 shares of the bank's stock after selling 8,180 shares during the quarter. City comprises about 0.9% of Barr E S & Co.'s investment portfolio, making the stock its 26th biggest holding. Barr E S & Co. owned about 0.89% of City worth $15,485,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC grew its position in City by 781.3% during the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank's stock valued at $50,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of City by 710.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock valued at $56,000 after acquiring an additional 405 shares in the last quarter. KBC Group NV raised its holdings in City by 60.3% in the 4th quarter. KBC Group NV now owns 843 shares of the bank's stock worth $100,000 after acquiring an additional 317 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in City by 10.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after acquiring an additional 131 shares in the last quarter. Finally, Longboard Asset Management LP purchased a new stake in City during the 4th quarter valued at $211,000. Institutional investors own 72.43% of the company's stock.

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Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on City from $135.00 to $125.00 and set a "neutral" rating on the stock in a report on Friday, January 24th.

City Stock Performance

Shares of CHCO stock traded up $1.05 on Tuesday, reaching $112.38. The stock had a trading volume of 51,502 shares, compared to its average volume of 59,685. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a 1 year low of $97.50 and a 1 year high of $137.28. The stock has a market cap of $1.65 billion, a P/E ratio of 14.24 and a beta of 0.48. The company has a 50 day simple moving average of $116.44 and a 200 day simple moving average of $120.12.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. Equities research analysts expect that City Holding will post 7.58 EPS for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.81%. City's dividend payout ratio is currently 40.05%.

Insider Activity

In other news, CFO David L. Bumgarner sold 556 shares of City stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the sale, the chief financial officer now owns 9,395 shares in the company, valued at $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the transaction, the director now directly owns 1,014 shares of the company's stock, valued at $122,187. The trade was a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226 shares of company stock valued at $147,200 in the last ninety days. Corporate insiders own 2.45% of the company's stock.

About City

City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust, and investment management, and other financial solutions in the United States. The company offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.