New York State Teachers Retirement System Sells 20,039 Shares of City Holding Company $CHCO

New York State Teachers Retirement System cut its position in shares of City Holding Company (NASDAQ:CHCO) by 88.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,517 shares of the bank’s stock after selling 20,039 shares during the period. New York State Teachers Retirement System’s holdings in City were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHCO. Kestra Advisory Services LLC acquired a new stake in City during the fourth quarter worth $29,000. First Horizon Corp raised its stake in shares of City by 146.0% in the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock valued at $29,000 after buying an additional 146 shares in the last quarter. Quarry LP acquired a new position in shares of City in the 3rd quarter valued at $32,000. Simplex Trading LLC acquired a new position in shares of City in the 4th quarter valued at $36,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of City by 113.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock worth $46,000 after acquiring an additional 198 shares during the period. 72.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Hovde Group lifted their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $134.25.

City Stock Performance

Shares of NASDAQ:CHCO opened at $134.17 on Wednesday. The business’s fifty day moving average price is $127.61 and its two-hundred day moving average price is $124.45. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $136.17. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.78 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.84 and a quick ratio of 0.84.

City (NASDAQ:CHCO) last released its quarterly earnings data 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 firm had revenue of $79.25 million during the quarter, compared to analyst estimates of $79.25 million. City had a return on equity of 16.58% and a net margin of 32.72%. As a group, analysts predict that City Holding Company will post 8.99 EPS for the current fiscal year.

City Announces Dividend

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

City declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 25th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other City news, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total value of $152,568.90. Following the transaction, the executive vice president directly owned 3,314 shares in the company, valued at $417,862.26. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Dale Legge sold 1,309 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total transaction of $163,625.00. Following the sale, the executive vice president directly owned 7,656 shares in the company, valued at $957,000. This represents a 14.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 455 shares of company stock worth $57,018 and have sold 12,975 shares worth $1,622,853. 1.75% of the stock is owned by corporate insiders.

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.