Raymond James Financial Inc. acquired a new position in shares of City Holding (NASDAQ:CHCO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,045 shares of the bank's stock, valued at approximately $361,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of City by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank's stock worth $65,253,000 after acquiring an additional 22,226 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of City by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 355,940 shares of the bank's stock worth $41,792,000 after purchasing an additional 1,065 shares during the period. Principal Financial Group Inc. raised its position in shares of City by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank's stock valued at $9,243,000 after buying an additional 2,726 shares during the last quarter. Barclays PLC lifted its stake in shares of City by 125.3% in the third quarter. Barclays PLC now owns 28,845 shares of the bank's stock valued at $3,385,000 after buying an additional 16,044 shares during the period. Finally, Jane Street Group LLC grew its position in City by 66.6% during the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank's stock worth $2,937,000 after buying an additional 9,999 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company's stock.
City Price Performance
Shares of CHCO stock traded up $1.51 during mid-day trading on Tuesday, reaching $112.05. The company's stock had a trading volume of 2,299 shares, compared to its average volume of 59,505. The firm's 50-day moving average is $116.60 and its two-hundred day moving average is $120.18. The company has a market cap of $1.65 billion, a P/E ratio of 14.18 and a beta of 0.48. 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 0.21, a quick ratio of 0.82 and a current ratio of 0.82.
City (NASDAQ:CHCO - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. On average, research analysts predict that City Holding will post 7.58 earnings per share for the current year.
City Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.82%. City's payout ratio is presently 40.05%.
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 Stock Analysis on CHCO
Insider Transactions at City
In other City news, Director Charles W. Fairchilds sold 500 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the sale, the director now directly owns 1,014 shares of the company's stock, valued at approximately $122,187. This represents a 33.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David L. Bumgarner sold 556 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the completion of the transaction, the chief financial officer now directly owns 9,395 shares in the company, valued at $1,127,400. The trade was a 5.59 % 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 owned by 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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