ExodusPoint Capital Management LP acquired a new stake in shares of City Holding (NASDAQ:CHCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,541 shares of the bank's stock, valued at approximately $1,130,000. ExodusPoint Capital Management LP owned 0.06% of City at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank's stock valued at $56,000 after buying an additional 405 shares during the period. KBC Group NV raised its position in City by 60.3% in the fourth quarter. KBC Group NV now owns 843 shares of the bank's stock worth $100,000 after purchasing an additional 317 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in City by 10.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock worth $162,000 after purchasing an additional 131 shares during the period. Longboard Asset Management LP acquired a new stake in City during the fourth quarter valued at approximately $211,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of City in the 4th quarter worth approximately $227,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Charles W. Fairchilds sold 500 shares of the company'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 approximately $122,187. This represents a 33.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David L. Bumgarner sold 556 shares of the firm's 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 transaction, the chief financial officer now owns 9,395 shares in the company, valued at approximately $1,127,400. This trade represents a 5.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,226 shares of company stock valued at $147,200 over the last 90 days. 2.45% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Separately, Piper Sandler cut their price objective on City from $135.00 to $125.00 and set a "neutral" rating for the company in a report on Friday, January 24th.
Read Our Latest Analysis on CHCO
City Price Performance
Shares of CHCO stock traded up $1.83 during trading hours on Tuesday, hitting $112.37. 20,650 shares of the company's stock were exchanged, compared to its average volume of 59,578. City Holding has a 52 week low of $97.50 and a 52 week high of $137.28. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 14.24 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The stock's 50-day moving average is $116.60 and its 200-day moving average is $120.18.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. As a group, research analysts forecast that City Holding will post 7.58 EPS for the current year.
City Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.81%. City's payout ratio is currently 40.05%.
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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