Robeco Institutional Asset Management B.V. Cuts Position in City Holding (NASDAQ:CHCO)

Robeco Institutional Asset Management B.V. trimmed its position in City Holding (NASDAQ:CHCO - Free Report) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,501 shares of the bank's stock after selling 5,053 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.59% of City worth $10,272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. boosted its holdings in shares of City by 5.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 614,511 shares of the bank's stock valued at $64,044,000 after acquiring an additional 32,069 shares in the last quarter. Nicholson Wealth Management Group LLC bought a new position in City during the third quarter worth $1,449,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in City in the first quarter valued at $1,133,000. Dimensional Fund Advisors LP grew its holdings in City by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 550,985 shares of the bank's stock worth $58,542,000 after acquiring an additional 10,740 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of City by 137.5% in the 2nd quarter. Squarepoint Ops LLC now owns 10,901 shares of the bank's stock worth $1,158,000 after acquiring an additional 6,312 shares in the last quarter. 72.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 price target on shares of City in a research note on Friday.

City Stock Up 2.5 %

Shares of CHCO stock traded up $3.24 during trading hours on Friday, reaching $131.80. The company had a trading volume of 23,490 shares, compared to its average volume of 56,915. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 16.50 and a beta of 0.46. The business has a fifty day simple moving average of $117.67 and a 200-day simple moving average of $111.83. City Holding has a 12 month low of $92.76 and a 12 month high of $135.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.82 and a quick ratio of 0.80.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.10. The business had revenue of $98.40 million during the quarter, compared to the consensus estimate of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. On average, research analysts expect that City Holding will post 7.78 earnings per share for the current fiscal year.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.79 dividend. This is an increase from City's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $3.16 annualized dividend and a yield of 2.40%. City's dividend payout ratio is presently 40.56%.

Insider Buying and Selling at City

In other City news, Director James L. Rossi sold 1,000 shares of the 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 owns 18,233 shares in the company, valued at $2,096,795. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director C Dallas Kayser sold 1,784 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the transaction, the director now directly owns 23,637 shares in the company, valued at $3,151,521.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James L. Rossi sold 1,000 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the transaction, the director now owns 18,233 shares of the company's stock, valued at approximately $2,096,795. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,384 shares of company stock valued at $422,233. Company insiders own 2.39% 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.