Renaissance Technologies LLC Sells 11,100 Shares of City Holding (NASDAQ:CHCO)

Renaissance Technologies LLC reduced its holdings in City Holding (NASDAQ:CHCO - Free Report) by 62.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,688 shares of the bank's stock after selling 11,100 shares during the period. Renaissance Technologies LLC's holdings in City were worth $711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank's stock worth $25,000 after purchasing an additional 113 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of City by 90.7% during the 1st quarter. Bessemer Group Inc. now owns 1,270 shares of the bank's stock worth $132,000 after purchasing an additional 604 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of City during the 1st quarter worth about $180,000. Commonwealth Equity Services LLC increased its stake in shares of City by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank's stock worth $226,000 after purchasing an additional 91 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of City by 5.9% during the 1st quarter. ProShare Advisors LLC now owns 2,955 shares of the bank's stock worth $308,000 after purchasing an additional 165 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors and hedge funds.

City Stock Performance

Shares of City stock traded up $1.24 during trading on Wednesday, hitting $115.37. 33,097 shares of the stock were exchanged, compared to its average volume of 57,831. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.52 and a beta of 0.47. The company has a fifty day moving average price of $115.95 and a 200-day moving average price of $109.24. City Holding has a 1-year low of $86.56 and a 1-year high of $125.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.22.

City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.08. City had a net margin of 32.12% and a return on equity of 17.42%. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $73.20 million. As a group, equities analysts predict that City Holding will post 7.73 EPS for the current fiscal year.

City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.79 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.74%. This is a positive change from City's previous quarterly dividend of $0.72. City's dividend payout ratio is 39.75%.

Insider Activity at City

In related news, CEO Charles R. Hageboeck sold 7,244 shares of the company's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $123.62, for a total value of $895,503.28. Following the transaction, the chief executive officer now owns 45,974 shares in the company, valued at approximately $5,683,305.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other City news, Director J. Thomas Jones sold 569 shares of the business's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $122.47, for a total value of $69,685.43. Following the completion of the sale, the director now owns 4,411 shares of the company's stock, valued at $540,215.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles R. Hageboeck sold 7,244 shares of the business's stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $123.62, for a total transaction of $895,503.28. Following the completion of the sale, the chief executive officer now directly owns 45,974 shares of the company's stock, valued at $5,683,305.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,413 shares of company stock worth $1,149,561. Insiders own 2.45% of the company's stock.

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.