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

Charles Schwab Investment Management Inc. boosted its holdings in shares of City Holding (NASDAQ:CHCO - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 550,755 shares of the bank's stock after purchasing an additional 22,226 shares during the period. Charles Schwab Investment Management Inc. owned approximately 3.75% of City worth $65,253,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHCO. Crossmark Global Holdings Inc. purchased a new position in City during the 3rd quarter worth $199,000. Victory Capital Management Inc. boosted its holdings in shares of City by 1.6% in the third quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank's stock valued at $1,018,000 after acquiring an additional 137 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of City by 14.1% in the third quarter. Quest Partners LLC now owns 8,601 shares of the bank's stock valued at $1,010,000 after acquiring an additional 1,063 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of City by 14.8% in the third quarter. Intech Investment Management LLC now owns 2,243 shares of the bank's stock valued at $263,000 after purchasing an additional 290 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of City by 6.7% in the third quarter. Cerity Partners LLC now owns 7,486 shares of the bank's stock valued at $879,000 after purchasing an additional 469 shares during the period. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles W. Fairchilds sold 500 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the completion of the sale, the director now directly owns 1,014 shares in the company, valued at approximately $122,187. The trade was a 33.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David L. Bumgarner sold 556 shares of the business's 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 completion of the sale, the chief financial officer now owns 9,395 shares of the company's stock, valued at approximately $1,127,400. The trade was a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,226 shares of company stock valued at $147,200 over the last 90 days. Insiders own 2.45% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of City from $120.00 to $130.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price objective on shares of City from $135.00 to $125.00 and set a "neutral" rating for the company in a research note on Friday, January 24th.

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City Stock Down 0.1 %

Shares of NASDAQ CHCO opened at $114.54 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 14.52 and a beta of 0.48. The firm has a 50-day moving average price of $118.04 and a 200 day moving average price of $120.59. City Holding has a 52 week low of $97.50 and a 52 week high of $137.28.

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

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.

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