JPMorgan Chase & Co. boosted its position in shares of City Holding (NASDAQ:CHCO - Free Report) by 24.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,243 shares of the bank's stock after acquiring an additional 51,055 shares during the quarter. JPMorgan Chase & Co. owned 1.78% of City worth $31,071,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of City by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock valued at $65,253,000 after purchasing an additional 22,226 shares during the period. Geode Capital Management LLC increased its position in City by 0.3% during the third quarter. Geode Capital Management LLC now owns 355,940 shares of the bank's stock worth $41,792,000 after buying an additional 1,065 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in City by 0.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank's stock valued at $12,964,000 after buying an additional 885 shares during the period. American Century Companies Inc. lifted its position 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 during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of City by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank's stock worth $9,243,000 after acquiring an additional 2,726 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.
Insider Buying and Selling at City
In other City news, CFO David L. Bumgarner sold 556 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the sale, 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 ownership of the stock. 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 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 completion of the transaction, the director now owns 1,014 shares of the company's stock, valued at $122,187. The trade was a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,226 shares of company stock valued at $147,200. 2.45% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Separately, Piper Sandler cut their price target on City from $135.00 to $125.00 and set a "neutral" rating for the company in a report on Friday, January 24th.
Check Out Our Latest Report on CHCO
City Stock Performance
Shares of City stock traded up $0.64 on Friday, hitting $109.57. The stock had a trading volume of 111,421 shares, compared to its average volume of 59,686. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 13.89 and a beta of 0.48. The business's 50 day moving average is $116.76 and its two-hundred day moving average is $120.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. City Holding has a twelve month low of $97.50 and a twelve month high of $137.28.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. Analysts forecast that City Holding will post 7.58 EPS for the current year.
City Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 2.88%. City's dividend payout ratio (DPR) is 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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