UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in City Holding (NASDAQ:CHCO - Free Report) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,342 shares of the bank's stock after selling 4,407 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of City worth $3,797,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of City during the third quarter valued at approximately $59,000. Crossmark Global Holdings Inc. acquired a new stake in City during the 3rd quarter valued at $199,000. Intech Investment Management LLC purchased a new stake in City during the 2nd quarter worth $208,000. Quantbot Technologies LP acquired a new position in City in the 3rd quarter worth $214,000. Finally, Commonwealth Equity Services LLC boosted its position in City by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank's stock valued at $226,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently commented on CHCO. Keefe, Bruyette & Woods increased their price target on City from $120.00 to $130.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler reissued a "neutral" rating and issued a $135.00 price objective on shares of City in a report on Friday, November 8th.
View Our Latest Stock Analysis on City
Insider Activity
In other City news, Director C Dallas Kayser sold 1,784 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total value of $237,860.72. Following the completion of the sale, the director now owns 23,637 shares in the company, valued at $3,151,521.21. This represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Derito sold 1,243 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $136.93, for a total value of $170,203.99. Following the sale, the executive vice president now directly owns 28,757 shares of the company's stock, valued at $3,937,696.01. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,092 shares of company stock worth $1,196,697 over the last 90 days. 2.45% of the stock is currently owned by company insiders.
City Stock Performance
Shares of CHCO traded down $0.24 during midday trading on Friday, hitting $128.86. 48,708 shares of the stock traded hands, compared to its average volume of 56,536. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. City Holding has a 1-year low of $97.50 and a 1-year high of $137.28. The business's 50 day moving average price is $124.56 and its two-hundred day moving average price is $116.47. The firm has a market capitalization of $1.89 billion, a PE ratio of 16.57 and a beta of 0.49.
City (NASDAQ:CHCO - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.10. The company had revenue of $98.40 million for the quarter, compared to analysts' expectations of $73.90 million. City had a return on equity of 16.60% and a net margin of 31.18%. Equities research analysts predict that City Holding will post 7.84 EPS for the current fiscal year.
City Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, January 15th. City's dividend payout ratio is presently 40.56%.
City Company Profile
(
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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