City Holding Company $CHCO Holdings Lifted by ProShare Advisors LLC

ProShare Advisors LLC raised its position in City Holding Company (NASDAQ:CHCO) by 3,506.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,597 shares of the bank’s stock after purchasing an additional 70,584 shares during the quarter. ProShare Advisors LLC’s holdings in City were worth $10,100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Allworth Financial LP bought a new stake in shares of City during the second quarter valued at about $27,000. Archer Investment Corp acquired a new position in City during the second quarter valued at $49,000. Sterling Capital Management LLC grew its stake in City by 223.6% in the third quarter. Sterling Capital Management LLC now owns 398 shares of the bank’s stock valued at $55,000 after purchasing an additional 275 shares in the last quarter. Global Retirement Partners LLC acquired a new position in City during the second quarter worth $58,000. Finally, Nisa Investment Advisors LLC grew its stake in City by 18.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 454 shares of the bank’s stock valued at $63,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CHCO has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on City from $145.00 to $147.00 and gave the stock a “hold” rating in a report on Tuesday, October 27th. Weiss Ratings raised City from a “buy (a-)” rating to a “buy (a)” rating in a report on Friday, October 16th. Finally, Hovde Group increased their price target on shares of City from $135.00 to $143.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, City currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Activity

In related news, Director Sharon H. Rowe sold 400 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 10,576 shares in the company, valued at approximately $1,522,520.96. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased 480 shares of company stock valued at $68,222 in the last three months. Insiders own 1.75% of the company’s stock.

City Stock Down 1.7%

CHCO stock opened at $142.95 on Wednesday. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 15.61 and a beta of 0.49. The business has a 50 day moving average price of $142.27 and a two-hundred day moving average price of $131.73. City Holding Company has a twelve month low of $113.21 and a twelve month high of $148.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last issued its earnings results on Monday, October 26th. The bank reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.07. City had a net margin of 32.31% and a return on equity of 16.22%. The company had revenue of $84.04 million for the quarter, compared to analysts’ expectations of $83.07 million. Analysts anticipate that City Holding Company will post 9.36 EPS for the current fiscal year.

City Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a dividend of $1.00 per share. This is an increase from City’s previous quarterly dividend of $0.87. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, October 15th. City’s payout ratio is 43.67%.

City Company 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.