Martingale Asset Management L P Continues to Hold Stake in City Holding Company (CHCO)
Martingale Asset Management L P continued to hold its position in shares of City Holding Company (NASDAQ:CHCO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,505 shares of the bank’s stock at the close of the 2nd quarter. Martingale Asset Management L P owned about 0.31% of City Holding worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Miles Capital Inc. increased its position in City Holding by 0.3% in the first quarter. Miles Capital Inc. now owns 3,262 shares of the bank’s stock worth $210,000 after buying an additional 10 shares during the period. Neuberger Berman Group LLC increased its position in City Holding by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,656 shares of the bank’s stock worth $241,000 after buying an additional 28 shares during the period. Louisiana State Employees Retirement System increased its position 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 worth $422,000 after buying an additional 100 shares during the period. Arizona State Retirement System increased its position in City Holding by 1.2% in the second quarter. Arizona State Retirement System now owns 8,170 shares of the bank’s stock worth $538,000 after buying an additional 100 shares during the period. Finally, Texas Permanent School Fund increased its position in City Holding by 1.0% in the second quarter. Texas Permanent School Fund now owns 11,390 shares of the bank’s stock worth $750,000 after buying an additional 114 shares during the period. 62.53% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on CHCO shares. Zacks Investment Research lowered City Holding from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub lowered City Holding from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, ValuEngine raised City Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. City Holding presently has an average rating of “Hold” and an average price target of $70.33.
In related news, CAO Jeffrey Dale Legge sold 899 shares of City Holding stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total transaction of $60,727.45. Following the completion of the sale, the chief accounting officer now directly owns 7,151 shares of the company’s stock, valued at $483,050.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 2,000 shares of City Holding stock in a transaction on Monday, August 28th. The stock was sold at an average price of $62.78, for a total value of $125,560.00. Following the sale, the chief executive officer now directly owns 72,984 shares of the company’s stock, valued at $4,581,935.52. The disclosure for this sale can be found here. 3.88% of the stock is owned by insiders.
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City Holding Company (NASDAQ:CHCO) opened at 64.70 on Friday. City Holding Company has a 52 week low of $48.40 and a 52 week high of $74.90. The company’s 50-day moving average price is $63.14 and its 200 day moving average price is $65.14. The company has a market cap of $1.01 billion, a PE ratio of 16.93 and a beta of 0.85.
City Holding (NASDAQ:CHCO) last announced its quarterly earnings data on Monday, July 24th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The business had revenue of $46.18 million during the quarter, compared to analysts’ expectations of $46.45 million. During the same period in the previous year, the firm earned $0.83 earnings per share. On average, analysts anticipate that City Holding Company will post $3.87 EPS for the current year.
City Holding 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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