Virtu Financial LLC Buys Shares of 7,273 City Holding (NASDAQ:CHCO)

Virtu Financial LLC acquired a new position in shares of City Holding (NASDAQ:CHCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,273 shares of the bank's stock, valued at approximately $862,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC increased its stake in City by 125.3% during the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank's stock valued at $3,385,000 after purchasing an additional 16,044 shares in the last quarter. Franklin Resources Inc. increased its position in shares of City by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank's stock valued at $1,116,000 after acquiring an additional 404 shares during the period. Jane Street Group LLC raised its stake in City by 66.6% in the 3rd quarter. Jane Street Group LLC now owns 25,017 shares of the bank's stock worth $2,937,000 after acquiring an additional 9,999 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in City during the 4th quarter worth about $227,000. Finally, Principal Financial Group Inc. grew its stake in City by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank's stock valued at $9,243,000 after purchasing an additional 2,726 shares during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Charles W. Fairchilds sold 500 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $120.50, for a total transaction of $60,250.00. Following the completion of the sale, the director now directly owns 1,014 shares in the company, valued at approximately $122,187. The trade was a 33.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David L. Bumgarner sold 556 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were 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 owns 9,395 shares in the company, valued at $1,127,400. The trade was a 5.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,226 shares of company stock valued at $147,200. 2.45% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several research analysts have recently issued reports on CHCO shares. Keefe, Bruyette & Woods raised their price objective on City from $120.00 to $130.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler decreased their price objective on shares of City from $135.00 to $125.00 and set a "neutral" rating for the company in a research note on Friday, January 24th.

City Stock Performance

NASDAQ CHCO traded down $2.23 during mid-day trading on Friday, reaching $117.50. 43,726 shares of the stock were exchanged, compared to its average volume of 57,103. The company has a market capitalization of $1.72 billion, a P/E ratio of 14.89 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82. The business's 50 day moving average is $118.12 and its 200-day moving average is $120.58. City Holding has a 1 year low of $97.50 and a 1 year high of $137.28.

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

City Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.69%. City's dividend payout ratio is currently 40.05%.

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.