Thrivent Financial for Lutherans boosted its position in City Holding (NASDAQ:CHCO) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,666 shares of the bank’s stock after buying an additional 881 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of City worth $788,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CHCO. Wells Fargo & Company MN increased its holdings in City by 2.0% during the third quarter. Wells Fargo & Company MN now owns 46,461 shares of the bank’s stock worth $3,569,000 after buying an additional 917 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of City by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 264,068 shares of the bank’s stock valued at $20,280,000 after acquiring an additional 6,851 shares during the period. BlackRock Inc. increased its holdings in shares of City by 3.8% in the 3rd quarter. BlackRock Inc. now owns 2,220,133 shares of the bank’s stock valued at $170,505,000 after acquiring an additional 81,160 shares during the period. Schroder Investment Management Group grew its stake in City by 53.4% during the 3rd quarter. Schroder Investment Management Group now owns 11,577 shares of the bank’s stock worth $889,000 after buying an additional 4,031 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its stake in City by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 11,241 shares of the bank’s stock worth $863,000 after buying an additional 3,999 shares during the last quarter. Institutional investors and hedge funds own 67.34% of the company’s stock.
In other news, CEO Charles R. Hageboeck sold 4,154 shares of City stock in a transaction on Monday, February 25th. The stock was sold at an average price of $79.77, for a total value of $331,364.58. Following the transaction, the chief executive officer now directly owns 60,405 shares in the company, valued at approximately $4,818,506.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 1,593 shares of City stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $79.50, for a total value of $126,643.50. Following the completion of the transaction, the chief executive officer now owns 57,121 shares in the company, valued at $4,541,119.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,565 shares of company stock valued at $522,916 in the last 90 days. 3.36% of the stock is currently owned by company insiders.
CHCO stock traded up $0.02 during trading on Wednesday, reaching $78.88. The stock had a trading volume of 64 shares, compared to its average volume of 54,283. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.88 and a quick ratio of 0.88. City Holding has a 1-year low of $65.32 and a 1-year high of $83.27. The firm has a market capitalization of $1.28 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.84 and a beta of 0.75.
City (NASDAQ:CHCO) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. The firm had revenue of $51.14 million during the quarter, compared to the consensus estimate of $52.88 million. City had a net margin of 31.15% and a return on equity of 15.26%. On average, sell-side analysts anticipate that City Holding will post 5.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, April 12th. City’s dividend payout ratio is presently 41.09%.
CHCO has been the subject of several analyst reports. BidaskClub raised City from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of City from a “hold” rating to a “strong-buy” rating and set a $83.00 price target for the company in a research report on Monday, January 28th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of City in a research report on Thursday, January 24th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $80.00.
City Company Profile
City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States. The company accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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