Allspring Global Investments Holdings LLC boosted its position in shares of City Holding (NASDAQ:CHCO – Get Rating) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,412 shares of the bank’s stock after acquiring an additional 749 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in City were worth $568,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in City during the first quarter valued at $27,000. Quantbot Technologies LP increased its position in City by 141.0% in the second quarter. Quantbot Technologies LP now owns 453 shares of the bank’s stock worth $36,000 after buying an additional 265 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in City in the second quarter worth about $46,000. Advisor Group Holdings Inc. increased its position in City by 80.4% in the first quarter. Advisor Group Holdings Inc. now owns 655 shares of the bank’s stock worth $52,000 after buying an additional 292 shares in the last quarter. Finally, KBC Group NV purchased a new stake in City in the second quarter worth about $84,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.
Insider Buying and Selling
In related news, EVP John A. Derito sold 2,634 shares of the stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $100.20, for a total transaction of $263,926.80. Following the completion of the sale, the executive vice president now owns 25,299 shares in the company, valued at $2,534,959.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John A. Derito sold 2,634 shares of the stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $100.20, for a total transaction of $263,926.80. Following the completion of the transaction, the executive vice president now directly owns 25,299 shares of the company’s stock, valued at $2,534,959.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles R. Hageboeck sold 1,957 shares of the stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $99.89, for a total value of $195,484.73. Following the transaction, the chief executive officer now directly owns 50,712 shares of the company’s stock, valued at $5,065,621.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,673 shares of company stock worth $970,184. 2.56% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
City Trading Down 0.2 %
NASDAQ:CHCO opened at $89.37 on Tuesday. City Holding has a 12-month low of $73.40 and a 12-month high of $103.00. The stock has a 50-day moving average price of $94.90 and a 200 day moving average price of $91.26. The stock has a market capitalization of $1.33 billion, a P/E ratio of 14.21 and a beta of 0.57.
City Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 13th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, January 12th. City’s dividend payout ratio is currently 41.34%.
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 offers checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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