Fmr LLC Acquires 652 Shares of City Holding (NASDAQ:CHCO)

Fmr LLC raised its holdings in shares of City Holding (NASDAQ:CHCO) by 36.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,437 shares of the bank’s stock after purchasing an additional 652 shares during the period. Fmr LLC’s holdings in City were worth $286,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its position in City by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,126 shares of the bank’s stock valued at $226,000 after buying an additional 91 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of City by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the bank’s stock valued at $786,000 after acquiring an additional 100 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of City by 1.6% during the third quarter. Victory Capital Management Inc. now owns 8,676 shares of the bank’s stock valued at $1,018,000 after acquiring an additional 137 shares in the last quarter. Inspire Investing LLC raised its position in shares of City by 6.8% in the 3rd quarter. Inspire Investing LLC now owns 3,493 shares of the bank’s stock worth $410,000 after purchasing an additional 222 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in City by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,455 shares of the bank’s stock worth $792,000 after purchasing an additional 285 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at City

In related news, Director C Dallas Kayser sold 1,784 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $133.33, for a total transaction of $237,860.72. Following the completion of the sale, the director now directly owns 23,637 shares in the company, valued at approximately $3,151,521.21. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John A. Derito sold 1,243 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $136.93, for a total transaction of $170,203.99. Following the sale, the executive vice president now directly owns 28,757 shares of the company’s stock, valued at approximately $3,937,696.01. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,092 shares of company stock valued at $1,196,697. 2.45% of the stock is owned by company insiders.

City Stock Performance

Shares of NASDAQ CHCO opened at $121.39 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $125.63 and its 200-day moving average price is $117.29. City Holding has a 52-week low of $97.50 and a 52-week high of $137.28. The company has a market cap of $1.78 billion, a PE ratio of 15.58 and a beta of 0.49.

City (NASDAQ:CHCO) last issued its earnings results on Thursday, October 24th. The bank reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.10. The company had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $73.90 million. City had a net margin of 31.18% and a return on equity of 16.60%. As a group, analysts anticipate that City Holding will post 7.84 EPS for the current year.

City Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, January 15th. City’s dividend payout ratio (DPR) is presently 40.56%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CHCO shares. Keefe, Bruyette & Woods lifted their target price on shares of City from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and issued a $135.00 price objective on shares of City in a report on Friday, November 8th.

City Company 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.