Illinois Municipal Retirement Fund Sells 242 Shares of City Holding (NASDAQ:CHCO)

Illinois Municipal Retirement Fund trimmed its position in shares of City Holding (NASDAQ:CHCO) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,197 shares of the bank’s stock after selling 242 shares during the period. Illinois Municipal Retirement Fund’s holdings in City were worth $904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of City by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 397,782 shares of the bank’s stock valued at $35,940,000 after acquiring an additional 16,123 shares during the last quarter. American Century Companies Inc. raised its stake in shares of City by 4.4% during the third quarter. American Century Companies Inc. now owns 69,998 shares of the bank’s stock valued at $6,324,000 after acquiring an additional 2,924 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of City by 8.1% during 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 acquiring an additional 3,007 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of City by 205.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 13,189 shares of the bank’s stock valued at $1,192,000 after acquiring an additional 8,869 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of City by 2.8% during the third quarter. Teacher Retirement System of Texas now owns 10,907 shares of the bank’s stock valued at $985,000 after acquiring an additional 301 shares during the last quarter. 72.43% of the stock is owned by institutional investors.

Insider Activity at City

In other City news, EVP John A. Derito sold 1,309 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.25, for a total value of $132,536.25. Following the sale, the executive vice president now owns 28,620 shares in the company, valued at $2,897,775. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Charles R. Hageboeck sold 8,899 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $101.00, for a total transaction of $898,799.00. Following the sale, the chief executive officer now owns 53,218 shares in the company, valued at $5,375,018. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John A. Derito sold 1,309 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.25, for a total transaction of $132,536.25. Following the sale, the executive vice president now owns 28,620 shares in the company, valued at approximately $2,897,775. The disclosure for this sale can be found here. 2.45% of the stock is owned by corporate insiders.

City Price Performance

Shares of NASDAQ CHCO opened at $104.11 on Monday. City Holding has a 1 year low of $82.53 and a 1 year high of $115.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.81. The company’s 50-day moving average is $101.82 and its 200 day moving average is $101.31. The stock has a market capitalization of $1.55 billion, a P/E ratio of 13.10 and a beta of 0.51.

City Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CHCO shares. Stephens lowered their price objective on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Thursday. Piper Sandler boosted their price target on shares of City from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $110.00 price target (up previously from $100.00) on shares of City in a research report 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.