Intech Investment Management LLC grew its stake in City Holding (NASDAQ:CHCO - Free Report) by 135.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,291 shares of the bank's stock after purchasing an additional 3,048 shares during the period. Intech Investment Management LLC's holdings in City were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Axxcess Wealth Management LLC lifted its stake in shares of City by 0.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank's stock valued at $12,964,000 after acquiring an additional 885 shares during the last quarter. Amundi grew its holdings in shares of City by 187.6% during the fourth quarter. Amundi now owns 7,443 shares of the bank's stock worth $871,000 after purchasing an additional 4,855 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank's stock valued at $162,000 after buying an additional 131 shares during the period. Raymond James Financial Inc. bought a new position in City in the 4th quarter valued at approximately $361,000. Finally, Charles Schwab Investment Management Inc. boosted its position in City by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after buying an additional 22,226 shares during the period. Institutional investors own 72.43% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on CHCO shares. Piper Sandler dropped their price target 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. Keefe, Bruyette & Woods upped their price target on City from $120.00 to $130.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th.
View Our Latest Analysis on CHCO
City Trading Down 1.9 %
NASDAQ CHCO traded down $2.23 during mid-day trading on Friday, reaching $117.50. 43,726 shares of the stock were exchanged, compared to its average volume of 57,244. The stock has a market cap of $1.72 billion, a P/E ratio of 14.89 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. City Holding has a one year low of $97.50 and a one year high of $137.28. The stock has a 50 day simple moving average of $118.17 and a 200-day simple moving average of $120.56.
City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 EPS for the quarter, topping 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%. On average, analysts anticipate that City Holding will post 7.58 EPS for the current year.
City Announces Dividend
The business also recently declared 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. This represents a $3.16 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, April 15th. City's dividend payout ratio (DPR) is currently 40.05%.
Insiders Place Their Bets
In related news, CFO David L. Bumgarner sold 556 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the completion of the sale, the chief financial officer now directly owns 9,395 shares of the company's stock, valued at approximately $1,127,400. This represents a 5.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the sale, the director now owns 1,014 shares of the company's stock, valued at approximately $122,187. The trade was a 33.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,226 shares of company stock worth $147,200. Corporate insiders own 2.45% of the company's stock.
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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