New York State Teachers Retirement System cut its position in shares of City Holding (NASDAQ:CHCO) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,463 shares of the bank’s stock after selling 1,400 shares during the period. New York State Teachers Retirement System owned approximately 0.30% of City worth $3,140,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Walthausen & Co. LLC bought a new stake in shares of City in the 3rd quarter valued at about $10,223,000. Macquarie Group Ltd. raised its holdings in shares of City by 25.6% in the 3rd quarter. Macquarie Group Ltd. now owns 470,684 shares of the bank’s stock valued at $36,149,000 after purchasing an additional 95,894 shares in the last quarter. BlackRock Inc. raised its holdings in shares of City by 3.8% in the 3rd quarter. BlackRock Inc. now owns 2,220,133 shares of the bank’s stock valued at $170,505,000 after purchasing an additional 81,160 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of City by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 1,590,260 shares of the bank’s stock valued at $122,133,000 after purchasing an additional 36,829 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of City by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,590,260 shares of the bank’s stock valued at $122,133,000 after purchasing an additional 36,829 shares in the last quarter. 72.19% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of City from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Zacks Investment Research upgraded shares of City from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Friday, November 30th. Finally, Boenning Scattergood restated a “hold” rating on shares of City in a report on Tuesday, October 23rd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $80.00.

NASDAQ:CHCO opened at $74.57 on Monday. City Holding has a one year low of $65.05 and a one year high of $83.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.90. The stock has a market capitalization of $1.15 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, January 24th. The bank reported $1.35 EPS for the quarter, topping the consensus estimate of $1.24 by $0.11. The firm had revenue of $51.14 million during the quarter, compared to analyst estimates of $52.88 million. City had a net margin of 31.15% and a return on equity of 15.23%. Research analysts forecast that City Holding will post 5.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Monday, January 14th. City’s dividend payout ratio (DPR) is currently 41.09%.

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City 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 accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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