AlphaQuest LLC Sells 8,811 Shares of City Holding Company $CHCO

AlphaQuest LLC lowered its stake in City Holding Company (NASDAQ:CHCO) by 77.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,573 shares of the bank’s stock after selling 8,811 shares during the period. AlphaQuest LLC’s holdings in City were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CHCO. First Citizens Bank & Trust Co. bought a new stake in shares of City during the 2nd quarter valued at about $414,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of City in the 2nd quarter worth approximately $406,000. Y Intercept Hong Kong Ltd bought a new position in shares of City in the 2nd quarter worth approximately $903,000. TrueMark Investments LLC purchased a new position in shares of City in the second quarter worth approximately $2,249,000. Finally, SG Americas Securities LLC grew its position in City by 255.3% during the third quarter. SG Americas Securities LLC now owns 8,936 shares of the bank’s stock valued at $1,107,000 after buying an additional 6,421 shares during the period. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Charles R. Hageboeck sold 2,017 shares of City stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $120.68, for a total transaction of $243,411.56. Following the sale, the chief executive officer owned 50,359 shares in the company, valued at $6,077,324.12. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CHCO shares. Piper Sandler increased their price target on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Wall Street Zen lowered City from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of City in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $134.50.

City Stock Up 0.3%

CHCO opened at $127.84 on Monday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.30 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s fifty day moving average is $123.33 and its 200 day moving average is $123.15. City Holding Company has a fifty-two week low of $102.22 and a fifty-two week high of $133.59.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.11). The business had revenue of $60.83 million during the quarter, compared to analysts’ expectations of $81.38 million. City had a net margin of 32.56% and a return on equity of 16.61%. On average, sell-side analysts forecast that City Holding Company will post 7.58 earnings per share for the current fiscal year.

City Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, January 15th. City’s dividend payout ratio (DPR) is 38.93%.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.