Comerica Bank Sells 180 Shares of City Holding (NASDAQ:CHCO)

Comerica Bank trimmed its stake in City Holding (NASDAQ:CHCOGet Rating) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,103 shares of the bank’s stock after selling 180 shares during the period. Comerica Bank’s holdings in City were worth $1,037,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CHCO. Kenfarb & CO. bought a new stake in shares of City during the fourth quarter worth $25,000. Dixon Hughes Goodman Wealth Advisors LLC grew its holdings in shares of City by 300.0% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 400 shares of the bank’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. US Asset Management LLC bought a new stake in shares of City during the first quarter worth $130,000. GSA Capital Partners LLP bought a new stake in shares of City during the fourth quarter worth $205,000. Finally, Inspire Investing LLC bought a new stake in shares of City during the first quarter worth $237,000. 64.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at City

In other City news, CEO Charles R. Hageboeck sold 5,050 shares of the stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $80.08, for a total value of $404,404.00. Following the transaction, the chief executive officer now owns 54,109 shares of the company’s stock, valued at $4,333,048.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other City news, CEO Charles R. Hageboeck sold 5,050 shares of the stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $80.08, for a total value of $404,404.00. Following the transaction, the chief executive officer now owns 54,109 shares of the company’s stock, valued at $4,333,048.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David L. Bumgarner sold 1,760 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $80.00, for a total value of $140,800.00. Following the completion of the transaction, the chief financial officer now directly owns 9,947 shares in the company, valued at approximately $795,760. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,660 shares of company stock valued at $692,446. 2.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. DA Davidson increased their target price on City to $91.00 in a report on Monday. StockNews.com lowered City from a “hold” rating to a “sell” rating in a research note on Monday, May 23rd.

City Stock Up 0.9 %

Shares of CHCO opened at $85.94 on Friday. City Holding has a 12-month low of $71.64 and a 12-month high of $86.30. The firm has a market capitalization of $1.29 billion, a PE ratio of 14.37 and a beta of 0.55. The stock’s fifty day simple moving average is $80.87 and its 200-day simple moving average is $79.86.

City (NASDAQ:CHCOGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.19. City had a return on equity of 13.55% and a net margin of 37.91%. Analysts anticipate that City Holding will post 6.55 EPS for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, July 14th. City’s payout ratio is 40.47%.

About City

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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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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