Axxcess Wealth Management LLC Increases Holdings in City Holding Company $CHCO

Axxcess Wealth Management LLC grew its holdings in City Holding Company (NASDAQ:CHCO) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 109,751 shares of the bank’s stock after acquiring an additional 485 shares during the period. Axxcess Wealth Management LLC’s holdings in City were worth $13,436,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CHCO. Westwood Holdings Group Inc. lifted its position in shares of City by 24.3% in the first quarter. Westwood Holdings Group Inc. now owns 631,584 shares of the bank’s stock valued at $74,192,000 after acquiring an additional 123,394 shares in the last quarter. Nuveen LLC purchased a new position in shares of City in the first quarter valued at about $4,883,000. Charles Schwab Investment Management Inc. lifted its position in shares of City by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 580,057 shares of the bank’s stock worth $68,139,000 after buying an additional 29,302 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of City in the first quarter worth about $1,493,000. Finally, Jane Street Group LLC lifted its position in shares of City by 82.3% in the first quarter. Jane Street Group LLC now owns 25,559 shares of the bank’s stock worth $3,002,000 after buying an additional 11,537 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on City from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. Hovde Group boosted their target price on City from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of City in a research report on Wednesday, October 8th. Zacks Research downgraded City from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Finally, DA Davidson boosted their target price on City from $128.00 to $137.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, City currently has an average rating of “Hold” and an average price target of $133.25.

Insider Buying and Selling

In other news, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $131.12, for a total transaction of $131,120.00. Following the transaction, the executive vice president owned 1,830 shares of the company’s stock, valued at approximately $239,949.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Dale Legge sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.06, for a total value 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. This represents a 26.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 305 shares of company stock worth $38,750. Insiders own 1.87% of the company’s stock.

City Trading Up 1.2%

Shares of NASDAQ CHCO opened at $119.89 on Tuesday. The business’s 50 day moving average is $124.66 and its two-hundred day moving average is $121.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.81 and a quick ratio of 0.81. City Holding Company has a 1-year low of $102.22 and a 1-year high of $137.28. The stock has a market capitalization of $1.74 billion, a P/E ratio of 14.43 and a beta of 0.53.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.32. City had a return on equity of 16.30% and a net margin of 31.35%.The company had revenue of $78.16 million for the quarter, compared to analysts’ expectations of $76.10 million. As a group, research analysts expect that City Holding Company will post 7.58 EPS for the current year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.87 per share. This is a positive change from City’s previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. City’s payout ratio is currently 38.03%.

About City

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.