City Holding Co. (CHCO) Position Increased by City Holding Co.
City Holding Co. raised its stake in shares of City Holding Co. (NASDAQ:CHCO) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 495,746 shares of the company’s stock after buying an additional 630 shares during the period. City Holding accounts for 10.8% of City Holding Co.’s portfolio, making the stock its largest position. City Holding Co. owned about 3.30% of City Holding worth $24,931,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of CHCO. NTV Asset Management LLC increased its position in City Holding by 0.7% in the second quarter. NTV Asset Management LLC now owns 15,585 shares of the company’s stock valued at $708,000 after buying an additional 108 shares during the period. Ameriprise Financial Inc. increased its position in City Holding by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 101,513 shares of the company’s stock valued at $4,616,000 after buying an additional 1,154 shares during the period. Neuberger Berman Group LLC acquired a new position in City Holding during the second quarter valued at $265,000. First Trust Advisors LP increased its position in City Holding by 39.2% in the second quarter. First Trust Advisors LP now owns 36,013 shares of the company’s stock valued at $1,638,000 after buying an additional 10,140 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in City Holding during the second quarter valued at $387,000. Hedge funds and other institutional investors own 60.50% of the company’s stock.
Shares of City Holding Co. (NASDAQ:CHCO) traded up 0.78% during midday trading on Friday, hitting $60.36. 100,289 shares of the stock were exchanged. City Holding Co. has a one year low of $40.74 and a one year high of $62.38. The stock’s 50-day moving average price is $52.13 and its 200 day moving average price is $49.13. The stock has a market cap of $905.76 million, a P/E ratio of 17.96 and a beta of 0.75.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings data on Monday, October 24th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. City Holding had a net margin of 26.90% and a return on equity of 11.96%. During the same period in the prior year, the company earned $0.69 earnings per share. On average, analysts anticipate that City Holding Co. will post $3.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, October 14th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.85%. The ex-dividend date was Wednesday, October 12th. City Holding’s payout ratio is currently 51.04%.
Separately, Zacks Investment Research upgraded shares of City Holding from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Wednesday, October 26th.
In related news, EVP John A. Derito sold 5,500 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $56.60, for a total value of $311,300.00. Following the completion of the sale, the executive vice president now owns 25,803 shares of the company’s stock, valued at $1,460,449.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles R. Hageboeck sold 4,713 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $61.49, for a total transaction of $289,802.37. Following the completion of the sale, the chief executive officer now directly owns 75,133 shares of the company’s stock, valued at approximately $4,619,928.17. The disclosure for this sale can be found here. 4.11% of the stock is currently owned by corporate insiders.
About City Holding
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). City National provides banking, trust and investment management and other financial solutions through its network of approximately 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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