Dynamic Technology Lab Private Ltd Acquires Shares of 3,393 City Holding (NASDAQ:CHCO)

Dynamic Technology Lab Private Ltd acquired a new position in City Holding (NASDAQ:CHCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,393 shares of the bank's stock, valued at approximately $402,000.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in City by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 24,940 shares of the bank's stock valued at $2,955,000 after buying an additional 1,530 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of City during the 4th quarter valued at $1,130,000. Pictet Asset Management Holding SA increased 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 worth $293,000 after purchasing an additional 570 shares in the last quarter. Norges Bank bought a new position in City in the 4th quarter worth $5,203,000. Finally, JPMorgan Chase & Co. lifted its position in City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank's stock valued at $31,071,000 after purchasing an additional 51,055 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.

Analysts Set New Price Targets

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

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Insider Buying and Selling

In other news, CFO David L. Bumgarner sold 556 shares of City stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was 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 owns 1,014 shares in the company, valued at $122,187. This represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,226 shares of company stock valued at $147,200. Corporate insiders own 2.45% of the company's stock.

City Price Performance

Shares of NASDAQ CHCO traded up $2.07 during midday trading on Tuesday, reaching $112.61. The stock had a trading volume of 8,622 shares, compared to its average volume of 59,527. 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 12-month low of $97.50 and a 12-month high of $137.28. The stock has a 50-day moving average of $116.60 and a 200-day moving average of $120.18. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 14.26 and a beta of 0.48.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly 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 return on equity of 16.49% and a net margin of 30.83%. As a group, research analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, April 15th. City's dividend payout ratio (DPR) is presently 40.05%.

City 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.