Nicholson Wealth Management Group LLC bought a new stake in shares of City Holding (NASDAQ:CHCO - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,345 shares of the bank's stock, valued at approximately $1,449,000. City makes up approximately 1.2% of Nicholson Wealth Management Group LLC's holdings, making the stock its 18th largest holding. Nicholson Wealth Management Group LLC owned approximately 0.08% of City as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in City by 95.8% during the 2nd quarter. GAMMA Investing LLC now owns 231 shares of the bank's stock valued at $25,000 after acquiring an additional 113 shares during the period. nVerses Capital LLC purchased a new stake in City in the third quarter valued at $59,000. Bessemer Group Inc. grew its position in 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 period. SG Americas Securities LLC acquired a new stake in City during the 1st quarter worth about $180,000. Finally, Intech Investment Management LLC purchased a new position in shares of City during the 2nd quarter valued at about $208,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.
City Stock Performance
City stock traded down $1.47 during midday trading on Friday, hitting $115.27. 38,475 shares of the company were exchanged, compared to its average volume of 57,003. City Holding has a fifty-two week low of $89.95 and a fifty-two week high of $125.54. The firm has a market capitalization of $1.70 billion, a PE ratio of 14.50 and a beta of 0.47. The business has a fifty day simple moving average of $116.97 and a two-hundred day simple moving average of $110.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.80 and a current ratio of 0.80.
City (NASDAQ:CHCO - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.08. The business had revenue of $94.90 million for the quarter, compared to analyst estimates of $73.20 million. City had a net margin of 32.12% and a return on equity of 17.42%. On average, sell-side analysts forecast that City Holding will post 7.73 earnings per share for the current 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 boost from City's previous quarterly dividend of $0.72. City's dividend payout ratio (DPR) is currently 39.75%.
Insiders Place Their Bets
In other news, EVP Michael T. Quinlan, Jr. sold 600 shares of City stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $115.62, for a total value of $69,372.00. Following the sale, the executive vice president now owns 2,000 shares in the company, valued at $231,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Michael T. Quinlan, Jr. sold 600 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $115.62, for a total value of $69,372.00. Following the completion of the transaction, the executive vice president now directly owns 2,000 shares of the company's stock, valued at approximately $231,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James L. Rossi sold 1,000 shares of City stock in a transaction on Friday, August 16th. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the sale, the director now directly owns 18,233 shares in the company, valued at approximately $2,096,795. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.45% of the stock is currently owned by company 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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