Polaris Capital Management LLC Sells 800 Shares of City Holding Company $CHCO

Polaris Capital Management LLC lessened its stake in shares of City Holding Company (NASDAQ:CHCO) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,895 shares of the bank’s stock after selling 800 shares during the period. Polaris Capital Management LLC owned approximately 0.16% of City worth $2,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in City by 69.7% during the 1st quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. CWM LLC increased its position in City by 43.9% during the 1st quarter. CWM LLC now owns 282 shares of the bank’s stock valued at $33,000 after buying an additional 86 shares in the last quarter. GAMMA Investing LLC increased its position in City by 69.0% during the 2nd quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock valued at $67,000 after buying an additional 223 shares in the last quarter. First United Bank & Trust bought a new position in City during the 1st quarter valued at approximately $78,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of City in the 1st quarter worth $104,000. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CHCO. Weiss Ratings reissued a “buy (b)” rating on shares of City in a report on Saturday, September 27th. Hovde Group lifted their target price on City from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their target price on City from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Wall Street Zen lowered City from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, DA Davidson lifted their target price on City from $128.00 to $137.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $133.25.

City Stock Performance

CHCO stock opened at $122.74 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of 14.77 and a beta of 0.53. City Holding Company has a 1 year low of $102.22 and a 1 year high of $137.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average price is $124.89 and its 200-day moving average price is $121.17.

City (NASDAQ:CHCO) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.32. The firm had revenue of $78.16 million for the quarter, compared to the consensus estimate of $76.10 million. City had a return on equity of 16.30% and a net margin of 31.35%. On average, equities analysts forecast that City Holding Company will post 7.58 earnings per share for the current year.

City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.8%. This is a boost from City’s previous quarterly dividend of $0.79. The ex-dividend date is Wednesday, October 15th. City’s dividend payout ratio (DPR) is presently 41.88%.

Insider Buying and Selling at City

In related news, EVP Jeffrey Dale Legge sold 2,500 shares of City stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $131.06, for a total transaction of $327,650.00. Following the transaction, the executive vice president directly owned 7,037 shares in the company, valued at approximately $922,269.22. The trade was a 26.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of City stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the transaction, the executive vice president owned 1,830 shares in the company, valued at $239,949.60. This trade represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 305 shares of company stock worth $38,750 over the last quarter. 1.87% of the stock is owned by company insiders.

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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.