Vanguard Group Inc. Reduces Stock Holdings in City Holding (NASDAQ:CHCO)

Vanguard Group Inc. lessened its position in shares of City Holding (NASDAQ:CHCO - Free Report) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,749,024 shares of the bank's stock after selling 2,560 shares during the period. Vanguard Group Inc. owned 11.90% of City worth $207,224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CHCO. FMR LLC lifted its stake in shares of City by 36.5% in the 3rd quarter. FMR LLC now owns 2,437 shares of the bank's stock valued at $286,000 after purchasing an additional 652 shares during the period. BNP Paribas Financial Markets lifted its stake in City by 54.7% in the third quarter. BNP Paribas Financial Markets now owns 5,430 shares of the bank's stock valued at $637,000 after buying an additional 1,919 shares during the period. Centiva Capital LP bought a new position in shares of City during the 3rd quarter worth approximately $295,000. Point72 Asset Management L.P. grew its position in shares of City by 34.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,900 shares of the bank's stock worth $340,000 after buying an additional 748 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of City in the 3rd quarter valued at $134,000. Institutional investors and hedge funds own 72.43% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler cut their target price on shares of City from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th.

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City Stock Down 4.2 %

Shares of CHCO traded down $4.75 during trading hours on Thursday, reaching $108.93. The stock had a trading volume of 120,693 shares, compared to its average volume of 59,448. The firm has a 50-day simple moving average of $116.96 and a 200 day simple moving average of $120.23. City Holding has a 12 month low of $97.50 and a 12 month high of $137.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 13.81 and a beta of 0.48.

City (NASDAQ:CHCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.03. City had a net margin of 30.83% and a return on equity of 16.49%. Equities research analysts predict that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, April 15th. City's dividend payout ratio (DPR) is presently 40.05%.

Insider Activity

In other City news, CFO David L. Bumgarner sold 556 shares of City stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the transaction, the chief financial officer now owns 9,395 shares of the company's stock, valued at $1,127,400. This trade represents a 5.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles W. Fairchilds sold 500 shares of City stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total value of $60,250.00. Following the sale, the director now owns 1,014 shares in the company, valued at $122,187. This trade represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,226 shares of company stock worth $147,200 over the last 90 days. 2.45% of the stock is currently owned by corporate insiders.

City Company 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.