Jane Street Group LLC raised its stake in shares of City Holding (NASDAQ:CHCO - Free Report) by 66.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,017 shares of the bank's stock after purchasing an additional 9,999 shares during the quarter. Jane Street Group LLC owned approximately 0.17% of City worth $2,937,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in City by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank's stock worth $58,542,000 after acquiring an additional 10,740 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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. American Century Companies Inc. lifted its holdings in shares of City by 6.0% during the second quarter. American Century Companies Inc. now owns 87,988 shares of the bank's stock valued at $9,349,000 after purchasing an additional 4,989 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in City by 7.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 32,497 shares of the bank's stock worth $3,453,000 after buying an additional 2,160 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC bought a new position in City during the 3rd quarter valued at about $1,449,000. 72.43% of the stock is currently owned by institutional investors.
City Trading Up 0.9 %
Shares of City stock traded up $1.09 on Friday, reaching $121.39. The company had a trading volume of 269,624 shares, compared to its average volume of 57,700. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 15.58 and a beta of 0.49. The firm's 50-day moving average price is $125.63 and its two-hundred day moving average price is $117.29. City Holding has a 1 year low of $97.50 and a 1 year 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 issued its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. The firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. As a group, research analysts predict that City Holding will post 7.84 earnings per share for the current fiscal year.
City Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, January 15th. City's payout ratio is currently 40.56%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 target price on shares of City in a report on Friday, November 8th. Keefe, Bruyette & Woods lifted their price objective on City from $120.00 to $130.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th.
Check Out Our Latest Report on CHCO
Insiders Place Their Bets
In other news, EVP John A. Derito sold 1,243 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the completion of the sale, the executive vice president now owns 28,757 shares of the company's stock, valued at $3,937,696.01. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles R. Hageboeck sold 6,065 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $130.03, for a total value of $788,631.95. Following the sale, the chief executive officer now owns 44,974 shares of the company's stock, valued at approximately $5,847,969.22. This trade represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,092 shares of company stock worth $1,196,697. 2.45% of the stock is owned by corporate insiders.
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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