City Holding Co. decreased its holdings in City Holding (NASDAQ:CHCO - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,822 shares of the bank's stock after selling 4,440 shares during the period. City comprises about 4.3% of City Holding Co.'s investment portfolio, making the stock its biggest holding. City Holding Co. owned 1.76% of City worth $30,665,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Barclays PLC grew its position in City by 125.3% in the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank's stock worth $3,385,000 after purchasing an additional 16,044 shares during the period. Alpha DNA Investment Management LLC bought a new stake in shares of City in the second quarter worth $483,000. Franklin Resources Inc. increased its position in City by 4.5% during the third quarter. Franklin Resources Inc. now owns 9,362 shares of the bank's stock valued at $1,116,000 after acquiring an additional 404 shares during the last quarter. Jane Street Group LLC lifted its holdings in City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank's stock valued at $2,937,000 after acquiring an additional 9,999 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in City by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 528,529 shares of the bank's stock worth $62,044,000 after purchasing an additional 15,910 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.
Insider Activity
In related news, Director C Dallas Kayser sold 1,784 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the sale, the director now owns 23,637 shares of the company's stock, valued at $3,151,521.21. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles R. Hageboeck sold 6,065 shares of City stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $130.03, for a total value of $788,631.95. Following the completion of the transaction, the chief executive officer now owns 44,974 shares of the company's stock, valued at approximately $5,847,969.22. This represents a 11.88 % 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 over the last ninety days. Corporate insiders own 2.39% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on CHCO shares. Piper Sandler reaffirmed a "neutral" rating and set a $135.00 price target on shares of City in a research report on Friday, November 8th. Keefe, Bruyette & Woods increased their price target on shares of City from $120.00 to $130.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th.
Get Our Latest Analysis on CHCO
City Stock Performance
Shares of NASDAQ:CHCO traded up $0.74 during mid-day trading on Monday, reaching $119.68. 84,578 shares of the company traded hands, compared to its average volume of 60,662. The company's 50 day moving average price is $125.32 and its 200-day moving average price is $119.78. The firm has a market cap of $1.76 billion, a PE ratio of 15.36 and a beta of 0.51. City Holding has a 52 week low of $97.50 and a 52 week high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.82.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to analyst estimates of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. On average, equities analysts expect that City Holding will post 7.84 EPS 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 issued a dividend of $0.79 per share. The ex-dividend date is Wednesday, January 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.64%. City's dividend payout ratio is presently 40.56%.
About City
(
Free Report)
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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