Walthausen & Co. LLC Sells 43,899 Shares of City Holding Company (CHCO)
Walthausen & Co. LLC cut its holdings in City Holding Company (NASDAQ:CHCO) by 22.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,337 shares of the bank’s stock after selling 43,899 shares during the quarter. Walthausen & Co. LLC owned approximately 0.99% of City Holding worth $10,232,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its position in shares of City Holding by 5.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 45,442 shares of the bank’s stock worth $2,930,000 after buying an additional 2,421 shares during the period. Prudential Financial Inc. grew its position in shares of City Holding by 4.3% in the 1st quarter. Prudential Financial Inc. now owns 26,881 shares of the bank’s stock worth $1,733,000 after buying an additional 1,100 shares during the period. First Trust Advisors LP grew its position in shares of City Holding by 34.8% in the 2nd quarter. First Trust Advisors LP now owns 38,774 shares of the bank’s stock worth $2,554,000 after buying an additional 10,005 shares during the period. Wells Fargo & Company MN grew its position in shares of City Holding by 6.7% in the 1st quarter. Wells Fargo & Company MN now owns 33,415 shares of the bank’s stock worth $2,154,000 after buying an additional 2,089 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of City Holding by 27.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock worth $32,797,000 after buying an additional 106,203 shares during the period. 62.53% of the stock is currently owned by hedge funds and other institutional investors.
In other City Holding news, CAO Jeffrey Dale Legge sold 899 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total value of $60,727.45. Following the completion of the sale, the chief accounting officer now owns 7,151 shares of the company’s stock, valued at $483,050.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles R. Hageboeck sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $62.78, for a total value of $125,560.00. Following the completion of the sale, the chief executive officer now directly owns 72,984 shares of the company’s stock, valued at approximately $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 (CHCO) traded up 0.20% during mid-day trading on Wednesday, hitting $74.13. 17,767 shares of the stock were exchanged. The stock has a 50 day moving average of $66.65 and a 200-day moving average of $65.83. City Holding Company has a 52-week low of $48.40 and a 52-week high of $74.90. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 19.36 and a beta of 0.86.
City Holding (NASDAQ:CHCO) last posted its earnings results on Monday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The company had revenue of $46.18 million for the quarter, compared to analyst estimates of $46.45 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Equities analysts predict that City Holding Company will post $3.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be paid a $0.44 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.76 annualized dividend and a yield of 2.38%. City Holding’s dividend payout ratio (DPR) is presently 45.95%.
A number of research firms have recently weighed in on CHCO. BidaskClub raised shares of City Holding from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Zacks Investment Research downgraded shares of City Holding from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $70.33.
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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