Cubist Systematic Strategies LLC Sells 14,535 Shares of City Holding (NASDAQ:CHCO)

Cubist Systematic Strategies LLC lowered its holdings in City Holding (NASDAQ:CHCO - Free Report) by 92.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,236 shares of the bank's stock after selling 14,535 shares during the period. Cubist Systematic Strategies LLC's holdings in City were worth $131,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHCO. Virtu Financial LLC acquired a new stake in shares of City during the 4th quarter worth approximately $599,000. Principal Financial Group Inc. raised its position in shares of City by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 83,542 shares of the bank's stock worth $8,707,000 after purchasing an additional 999 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of City during the 1st quarter worth approximately $1,133,000. BNP Paribas Financial Markets increased its position in City by 48.5% in the 1st quarter. BNP Paribas Financial Markets now owns 7,260 shares of the bank's stock valued at $757,000 after acquiring an additional 2,370 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in City by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 12,953 shares of the bank's stock valued at $1,350,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 72.43% of the company's stock.

City Stock Performance

CHCO traded up $1.84 during trading hours on Wednesday, hitting $121.54. The company's stock had a trading volume of 41,764 shares, compared to its average volume of 57,449. City Holding has a fifty-two week low of $86.56 and a fifty-two week 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. The firm has a market capitalization of $1.79 billion, a PE ratio of 15.28 and a beta of 0.47. The company has a 50-day simple moving average of $116.15 and a 200 day simple moving average of $109.76.

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

City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This is a positive change from City's previous quarterly dividend of $0.72. This represents a $3.16 annualized dividend and a dividend yield of 2.60%. City's dividend payout ratio (DPR) is currently 39.75%.

Insider Transactions at City

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

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.