New York State Teachers Retirement System Sells 1,347 Shares of City Holding (NASDAQ:CHCO)

New York State Teachers Retirement System decreased its position in shares of City Holding (NASDAQ:CHCO) by 4.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,417 shares of the bank’s stock after selling 1,347 shares during the quarter. New York State Teachers Retirement System’s holdings in City were worth $3,133,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. bought a new stake in City during the fourth quarter valued at about $38,000. Raymond James & Associates purchased a new stake in City in the fourth quarter valued at about $610,000. CIC Wealth LLC purchased a new stake in City in the fourth quarter valued at about $210,000. Public Employees Retirement System of Ohio raised its stake in City by 8.1% in the third quarter. Public Employees Retirement System of Ohio now owns 40,092 shares of the bank’s stock valued at $3,622,000 after buying an additional 3,007 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in City by 4.4% in the third quarter. American Century Companies Inc. now owns 69,998 shares of the bank’s stock valued at $6,324,000 after buying an additional 2,924 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

City Stock Up 0.3 %

City stock opened at $99.10 on Tuesday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 13.02 and a beta of 0.51. City Holding has a 52 week low of $82.53 and a 52 week high of $115.89. The business’s 50-day moving average price is $101.59 and its 200 day moving average price is $100.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, January 24th. The bank reported $1.84 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.06). The company had revenue of $86.10 million for the quarter, compared to analyst estimates of $72.50 million. City had a return on equity of 18.62% and a net margin of 33.31%. As a group, sell-side analysts anticipate that City Holding will post 7.43 earnings per share for the current year.

City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, April 12th. City’s dividend payout ratio (DPR) is 37.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CHCO shares. Piper Sandler increased their price target on City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Stephens raised their price objective on City from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th.

Insider Buying and Selling

In related news, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $101.00, for a total transaction of $898,799.00. Following the sale, the chief executive officer now directly owns 53,218 shares of the company’s stock, valued at $5,375,018. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other City news, EVP John A. Derito sold 1,309 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.25, for a total value of $132,536.25. Following the sale, the executive vice president now directly owns 28,620 shares of the company’s stock, valued at $2,897,775. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 8,899 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total value of $898,799.00. Following the completion of the sale, the chief executive officer now directly owns 53,218 shares in the company, valued at $5,375,018. The disclosure for this sale can be found here. Insiders have sold a total of 10,808 shares of company stock valued at $1,094,935 over the last ninety days. Company insiders own 2.45% of the company’s stock.

About City

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.