City Holding (NASDAQ:CHCO) Shares Sold by Comerica Bank

Comerica Bank lessened its position in shares of City Holding (NASDAQ:CHCO – Get Rating) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,368 shares of the bank’s stock after selling 1,435 shares during the quarter. Comerica Bank owned approximately 0.08% of City worth $1,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP increased its position in City by 197.2% during the 3rd quarter. Versor Investments LP now owns 10,700 shares of the bank’s stock worth $949,000 after purchasing an additional 7,100 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in City during the 2nd quarter worth about $492,000. State of Alaska Department of Revenue increased its position in City by 7.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 11,319 shares of the bank’s stock worth $904,000 after purchasing an additional 800 shares in the last quarter. Carolina Wealth Advisors LLC increased its position in City by 0.3% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 44,532 shares of the bank’s stock worth $3,557,000 after purchasing an additional 127 shares in the last quarter. Finally, Wesbanco Bank Inc. purchased a new stake in City in the 3rd quarter valued at about $214,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut City from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th.

City Price Performance

CHCO opened at $89.37 on Tuesday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 14.21 and a beta of 0.57. The business has a 50-day moving average of $94.90 and a two-hundred day moving average of $91.26. City Holding has a 12 month low of $73.40 and a 12 month high of $103.00.

City Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, January 12th. City’s dividend payout ratio (DPR) is 41.34%.

Insider Transactions at City

In other news, CFO David L. Bumgarner sold 1,532 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $102.15, for a total transaction of $156,493.80. Following the completion of the sale, the chief financial officer now owns 8,473 shares in the company, valued at approximately $865,516.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO David L. Bumgarner sold 1,532 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $102.15, for a total transaction of $156,493.80. Following the completion of the sale, the chief financial officer now owns 8,473 shares in the company, valued at approximately $865,516.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John A. Derito sold 452 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $101.10, for a total value of $45,697.20. Following the sale, the executive vice president now owns 29,808 shares of the company’s stock, valued at approximately $3,013,588.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,673 shares of company stock worth $970,184. 2.56% of the stock is currently owned by company insiders.

City Company Profile

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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.