City Holding (NASDAQ:CHCO) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership reduced its stake in City Holding (NASDAQ:CHCO - Free Report) by 44.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,967 shares of the bank's stock after selling 18,305 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.16% of City worth $2,721,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its stake in shares of City by 30.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,470 shares of the bank's stock valued at $293,000 after acquiring an additional 570 shares during the period. Norges Bank purchased a new stake in City in the fourth quarter valued at approximately $5,203,000. JPMorgan Chase & Co. lifted its stake in City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock worth $31,071,000 after purchasing an additional 51,055 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of City during the fourth quarter worth $367,000. Finally, American Century Companies Inc. grew its stake in shares of City by 3.2% in the fourth quarter. American Century Companies Inc. now owns 92,244 shares of the bank's stock valued at $10,929,000 after buying an additional 2,903 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.

Insider Activity

In related news, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction 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 transaction, the director now directly owns 1,014 shares in the company, valued at $122,187. This trade represents a 33.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David L. Bumgarner sold 556 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total transaction of $66,720.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,226 shares of company stock valued at $147,200. Insiders own 2.45% of the company's stock.

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City Stock Up 1.7 %

Shares of CHCO traded up $1.86 during mid-day trading on Tuesday, reaching $112.40. The company's stock had a trading volume of 4,270 shares, compared to its average volume of 69,536. The company's 50 day moving average is $116.60 and its 200 day moving average is $120.18. The stock has a market cap of $1.65 billion, a PE ratio of 14.25 and a beta of 0.48. City Holding has a 12-month low of $97.50 and a 12-month high of $137.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82.

City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping 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 analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid 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 presently 40.05%.

Analysts Set New Price Targets

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

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.