Aperio Group LLC Has $1.35 Million Stake in City Holding Company (NASDAQ:CHCO)
Aperio Group LLC decreased its position in City Holding Company (NASDAQ:CHCO) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,502 shares of the bank’s stock after selling 1,348 shares during the period. Aperio Group LLC’s holdings in City Holding were worth $1,350,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in City Holding by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 6,400 shares of the bank’s stock valued at $422,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue raised its stake in City Holding by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 3,081 shares of the bank’s stock valued at $202,000 after buying an additional 1,361 shares during the last quarter. Macquarie Group Ltd. raised its stake in City Holding by 4.2% in the first quarter. Macquarie Group Ltd. now owns 513,264 shares of the bank’s stock valued at $33,095,000 after buying an additional 20,901 shares during the last quarter. AQR Capital Management LLC raised its stake in City Holding by 15.0% in the first quarter. AQR Capital Management LLC now owns 46,137 shares of the bank’s stock valued at $2,975,000 after buying an additional 6,008 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in City Holding during the first quarter valued at $266,000. Hedge funds and other institutional investors own 61.59% of the company’s stock.
Shares of City Holding Company (NASDAQ CHCO) traded up 1.69% during mid-day trading on Monday, hitting $62.00. 60,732 shares of the company were exchanged. The company’s 50-day moving average price is $65.42 and its 200-day moving average price is $65.70. City Holding Company has a 12-month low of $47.88 and a 12-month high of $74.90. The firm has a market capitalization of $968.25 million, a P/E ratio of 16.22 and a beta of 0.84.
City Holding (NASDAQ:CHCO) last issued its quarterly earnings results on Monday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.11. The company had revenue of $46.18 million during the quarter, compared to the consensus estimate of $46.45 million. City Holding had a net margin of 29.07% and a return on equity of 12.62%. During the same quarter in the prior year, the firm posted $0.83 EPS. Equities research analysts predict that City Holding Company will post $3.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Wednesday, July 12th. City Holding’s dividend payout ratio is 45.95%.
CHCO has been the subject of several recent analyst reports. Zacks Investment Research raised shares of City Holding from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Monday, June 26th. ValuEngine raised shares of City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub raised shares of City Holding from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $70.33.
In related news, CAO Jeffrey Dale Legge sold 899 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $67.55, for a total transaction of $60,727.45. Following the completion of the transaction, the chief accounting officer now directly owns 7,151 shares in the company, valued at approximately $483,050.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig G. Stilwell sold 1,822 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.07, for a total transaction of $118,557.54. Following the transaction, the executive vice president now owns 25,043 shares of the company’s stock, valued at $1,629,548.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,586 shares of company stock valued at $1,726,691. 3.88% of the stock is owned by corporate insiders.
City Holding Company Profile
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). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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