Yousif Capital Management LLC Reduces Stock Holdings in City Holding (NASDAQ:CHCO)

Yousif Capital Management LLC reduced its position in shares of City Holding (NASDAQ:CHCO) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,327 shares of the bank’s stock after selling 515 shares during the quarter. Yousif Capital Management LLC’s holdings in City were worth $808,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of City in the fourth quarter worth approximately $38,000. Federated Hermes Inc. grew its position in shares of 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 during the period. Quantbot Technologies LP increased its stake in shares of City by 206.2% in the 3rd quarter. Quantbot Technologies LP now owns 1,975 shares of the bank’s stock worth $178,000 after purchasing an additional 1,330 shares in the last quarter. CIC Wealth LLC purchased a new stake in shares of City in the 4th quarter worth $210,000. Finally, Lido Advisors LLC bought a new position in City in the 3rd quarter worth $237,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Insider Activity

In related news, CEO Charles R. Hageboeck sold 8,899 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 53,218 shares in the company, valued at $5,375,018. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other City news, CFO David L. Bumgarner sold 1,499 shares of City stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $103.20, for a total value of $154,696.80. Following the sale, the chief financial officer now owns 9,951 shares of the company’s stock, valued at approximately $1,026,943.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles R. Hageboeck sold 8,899 shares of the company’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 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 15,980 shares of company stock worth $1,634,286 over the last quarter. Insiders own 2.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $110.00 price target (up previously from $100.00) on shares of City in a research report on Thursday, April 25th. Stephens reduced their target price on shares of City from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Piper Sandler raised their target price on shares of City from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Hovde Group upped their price target on shares of City from $110.00 to $113.00 and gave the stock a “market perform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $106.75.

City Stock Performance

NASDAQ CHCO opened at $104.47 on Friday. The business has a 50-day moving average price of $102.01 and a 200-day moving average price of $101.66. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 13.14 and a beta of 0.50. City Holding has a twelve month low of $82.53 and a twelve month high of $115.89. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

City Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, April 12th. City’s dividend payout ratio (DPR) is currently 35.97%.

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.