7,400 Shares in City Holding (NASDAQ:CHCO) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in City Holding (NASDAQ:CHCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,400 shares of the bank’s stock, valued at approximately $816,000.

Other institutional investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new position in City in the 4th quarter worth about $38,000. Federated Hermes Inc. grew its stake in City by 28.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,137 shares of the bank’s stock valued at $103,000 after acquiring an additional 249 shares in the last quarter. CIC Wealth LLC purchased a new position in City during the 4th quarter valued at about $210,000. Quantbot Technologies LP grew its stake in City by 206.2% during the 3rd quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock valued at $178,000 after acquiring an additional 1,330 shares in the last quarter. Finally, Lido Advisors LLC purchased a new position in City during the 3rd quarter valued at about $237,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Insider Activity at City

In related news, CEO Charles R. Hageboeck sold 8,899 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 owns 53,218 shares of the company’s stock, valued at approximately $5,375,018. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP John A. Derito sold 1,309 shares of the business’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 completion of the sale, the executive vice president now directly owns 28,620 shares in the company, valued at approximately $2,897,775. The transaction 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 business’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 owns 53,218 shares of the company’s stock, valued at $5,375,018. The disclosure for this sale can be found here. 2.45% of the stock is currently owned by company insiders.

City Trading Down 1.0 %

Shares of NASDAQ CHCO opened at $104.11 on Friday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 13.10 and a beta of 0.51. The business has a 50 day simple moving average of $101.79 and a 200 day simple moving average of $101.11. City Holding has a 52 week low of $82.53 and a 52 week high of $115.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.81 and a current ratio of 0.82.

City (NASDAQ:CHCO) last announced its quarterly 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 firm had revenue of $86.10 million during the quarter, compared to the consensus estimate of $72.50 million. City had a net margin of 33.78% and a return on equity of 18.31%. On average, research analysts predict that City Holding will post 7.51 earnings per share for the current fiscal year.

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.86 annualized dividend and a dividend yield of 2.75%. City’s payout ratio is 35.97%.

Analyst Ratings Changes

CHCO has been the topic of several research analyst reports. Piper Sandler lifted their target price on City from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Stephens lowered their target price on City from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $110.00 target price (up previously from $100.00) on shares of City in a research note on Thursday.

City 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.