City Holding Company $CHCO Stake Trimmed by Leeward Investments LLC MA

Leeward Investments LLC MA lessened its holdings in City Holding Company (NASDAQ:CHCO) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,631 shares of the bank’s stock after selling 3,862 shares during the quarter. Leeward Investments LLC MA owned 0.47% of City worth $9,270,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of City during the 2nd quarter worth $270,231,000. Dimensional Fund Advisors LP boosted its stake in City by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 470,344 shares of the bank’s stock valued at $56,217,000 after buying an additional 8,992 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in City in the second quarter valued at about $15,012,000. Principal Financial Group Inc. boosted its stake in City by 2.1% in the first quarter. Principal Financial Group Inc. now owns 70,262 shares of the bank’s stock valued at $8,398,000 after buying an additional 1,460 shares in the last quarter. Finally, First Trust Advisors LP grew its position in City by 35.2% in the first quarter. First Trust Advisors LP now owns 61,693 shares of the bank’s stock valued at $7,374,000 after acquiring an additional 16,060 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Insider Buying and Selling at City

In related news, CEO Charles Hageboeck sold 4,485 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $144.96, for a total transaction of $650,145.60. Following the sale, the chief executive officer owned 43,998 shares in the company, valued at $6,377,950.08. The trade was a 9.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sharon H. Rowe sold 400 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $143.96, for a total value of $57,584.00. Following the sale, the director owned 10,576 shares in the company, valued at $1,522,520.96. This represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 480 shares of company stock worth $68,222. 1.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CHCO has been the subject of several research analyst reports. Hovde Group boosted their target price on City from $135.00 to $143.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of City from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday, October 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of City from $135.00 to $145.00 and gave the company a “market perform” rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.33.

City Stock Performance

NASDAQ CHCO opened at $142.01 on Monday. The firm’s fifty day moving average price is $142.51 and its two-hundred day moving average price is $135.00. The stock has a market cap of $2.00 billion, a PE ratio of 15.54 and a beta of 0.49. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $148.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a dividend of $1.00 per share. This is a positive change from City’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. City’s dividend payout ratio (DPR) is 43.76%.

City Profile

City Holding Company (NASDAQ: CHCO) is a bank holding company headquartered in Charleston, West Virginia. Through its principal subsidiary, City National Bank, the company provides banking and financial services to individuals, businesses and institutions.

City National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, credit cards, cash-management services, investment products and trust services. Its activities also include wealth management and related financial services designed for retail, business and institutional customers.

The company serves communities primarily in West Virginia, Virginia, eastern Kentucky and southeastern Ohio through a network of branches and other delivery channels.