SG Americas Securities LLC Sells 4,125 Shares of City Holding Company $CHCO

SG Americas Securities LLC reduced its stake in City Holding Company (NASDAQ:CHCO) by 37.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,901 shares of the bank’s stock after selling 4,125 shares during the quarter. SG Americas Securities LLC’s holdings in City were worth $825,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Corp raised its holdings in shares of City by 146.0% in the fourth quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of City during the fourth quarter valued at about $29,000. Quarry LP purchased a new position in City during the third quarter worth about $32,000. Simplex Trading LLC bought a new stake in City in the 4th quarter worth about $36,000. Finally, Geneos Wealth Management Inc. grew its position in City by 113.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after purchasing an additional 198 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHCO has been the topic of several recent analyst reports. Hovde Group lifted their target price on shares of City from $133.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of City in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $134.25.

City Price Performance

City stock opened at $134.85 on Monday. City Holding Company has a twelve month low of $113.21 and a twelve month high of $136.17. The firm has a 50 day moving average price of $126.37 and a 200-day moving average price of $124.04. The company has a market capitalization of $1.90 billion, a P/E ratio of 14.85 and a beta of 0.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.03. The company had revenue of $79.25 million during the quarter, compared to analyst estimates of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. As a group, equities analysts predict that City Holding Company will post 8.99 EPS for the current year.

City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, July 15th. City’s dividend payout ratio (DPR) is currently 38.33%.

City declared that its board has authorized a stock repurchase program on Wednesday, March 25th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at City

In other news, CFO David L. Bumgarner sold 1,161 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $124.50, for a total transaction of $144,544.50. Following the completion of the transaction, the chief financial officer owned 10,666 shares in the company, valued at approximately $1,327,917. This represents a 9.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the transaction, the executive vice president owned 7,656 shares of the company’s stock, valued at $957,000. The trade was a 14.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders acquired 455 shares of company stock valued at $57,018 and sold 12,975 shares valued at $1,622,853. 1.75% of the stock is currently owned by insiders.

City 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.