Charles Schwab Investment Management Inc. Raises Stock Position in City Holding (NASDAQ:CHCO)

Charles Schwab Investment Management Inc. grew its holdings in City Holding (NASDAQ:CHCO - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 528,529 shares of the bank's stock after purchasing an additional 15,910 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.60% of City worth $62,044,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CHCO. Leeward Investments LLC MA grew its holdings in City by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 88,957 shares of the bank's stock valued at $9,452,000 after buying an additional 4,725 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in City during the second quarter valued at approximately $483,000. Zhang Financial LLC bought a new stake in City during the 2nd quarter worth approximately $401,000. Squarepoint Ops LLC lifted its stake in City by 137.5% in the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank's stock worth $1,158,000 after purchasing an additional 6,312 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in City by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,944 shares of the bank's stock valued at $1,141,000 after purchasing an additional 423 shares during the period. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at City

In related news, Director C Dallas Kayser sold 1,784 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $133.33, for a total value of $237,860.72. Following the transaction, the director now directly owns 23,637 shares of the company's stock, valued at approximately $3,151,521.21. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John A. Derito sold 1,243 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total value of $170,203.99. Following the sale, the executive vice president now directly owns 28,757 shares of the company's stock, valued at $3,937,696.01. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,092 shares of company stock worth $1,196,697 in the last 90 days. 2.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 price target on shares of City in a report on Friday, November 8th.

City Price Performance

City stock traded down $0.80 during mid-day trading on Friday, hitting $131.32. 34,971 shares of the company traded hands, compared to its average volume of 56,596. City Holding has a one year low of $96.01 and a one year high of $137.28. The stock has a fifty day moving average price of $121.99 and a 200-day moving average price of $114.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 16.86 and a beta of 0.46.

City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.10. City had a return on equity of 16.60% and a net margin of 31.18%. The business had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. On average, equities analysts predict that City Holding will post 7.84 earnings per share for the current fiscal year.

City Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.16 annualized dividend and a yield of 2.41%. City's payout ratio is presently 40.56%.

City Company Profile

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.