American Century Companies Inc. Grows Stock Position in City Holding (NASDAQ:CHCO)

American Century Companies Inc. grew its position in shares of City Holding (NASDAQ:CHCO) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,244 shares of the bank’s stock after buying an additional 2,903 shares during the period. American Century Companies Inc. owned 0.63% of City worth $10,929,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Barclays PLC grew its stake in City by 125.3% during the third quarter. Barclays PLC now owns 28,845 shares of the bank’s stock valued at $3,385,000 after acquiring an additional 16,044 shares in the last quarter. Franklin Resources Inc. grew its position in shares of City by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock valued at $1,116,000 after purchasing an additional 404 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of City by 66.6% in the third quarter. Jane Street Group LLC now owns 25,017 shares of the bank’s stock worth $2,937,000 after purchasing an additional 9,999 shares during the period. Apollon Wealth Management LLC bought a new stake in City during the fourth quarter valued at $227,000. Finally, Charles Schwab Investment Management Inc. grew its position in City by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock worth $65,253,000 after buying an additional 22,226 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHCO. Piper Sandler lowered their price target on City from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on shares of City from $120.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Insider Transactions at City

In related news, CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $120.00, for a total value of $66,720.00. Following the sale, the chief financial officer now directly owns 9,395 shares of the company’s stock, valued at $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles W. Fairchilds sold 500 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the transaction, the director now owns 1,014 shares in the company, valued at approximately $122,187. This represents a 33.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,226 shares of company stock worth $147,200. Company insiders own 2.45% of the company’s stock.

City Trading Up 0.5 %

Shares of CHCO stock opened at $118.02 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.73 billion, a P/E ratio of 14.96 and a beta of 0.48. The business has a 50-day moving average price of $118.01 and a two-hundred day moving average price of $120.66. City Holding has a 12-month low of $97.50 and a 12-month high of $137.28.

City (NASDAQ:CHCO) last released its earnings results on Thursday, January 23rd. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. Equities analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, April 15th. City’s dividend payout ratio is currently 40.05%.

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.