Russell Investments Group Ltd. Cuts Stock Position in City Holding (NASDAQ:CHCO)

Russell Investments Group Ltd. trimmed its position in City Holding (NASDAQ:CHCO) by 14.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,329 shares of the bank’s stock after selling 1,600 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of City worth $1,105,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of City by 710.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock worth $56,000 after acquiring an additional 405 shares during the period. KBC Group NV grew its holdings in City by 60.3% during the fourth quarter. KBC Group NV now owns 843 shares of the bank’s stock worth $100,000 after acquiring an additional 317 shares during the period. PNC Financial Services Group Inc. raised its position in City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after acquiring an additional 131 shares in the last quarter. Longboard Asset Management LP acquired a new stake in City in the fourth quarter valued at $211,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of City during the 4th quarter worth $227,000. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Trading Down 1.3 %

NASDAQ:CHCO opened at $112.29 on Tuesday. The company has a market capitalization of $1.65 billion, a PE ratio of 14.23 and a beta of 0.48. City Holding has a 52-week low of $99.63 and a 52-week high of $137.28. The stock has a fifty day simple moving average of $115.98 and a 200-day simple moving average of $120.12. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.03. City had a return on equity of 16.49% and a net margin of 30.83%. On average, equities research analysts expect that City Holding will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $0.79 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.81%. City’s dividend payout ratio (DPR) is 40.05%.

Insiders Place Their Bets

In related news, CFO David L. Bumgarner sold 556 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $120.00, for a total transaction of $66,720.00. Following the sale, the chief financial officer now owns 9,395 shares in the company, valued at approximately $1,127,400. This trade represents a 5.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $120.50, for a total value of $60,250.00. Following the completion of the transaction, the director now owns 1,014 shares of the company’s stock, valued at $122,187. This trade represents a 33.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,226 shares of company stock valued at $147,200 in the last ninety days. Insiders own 1.87% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price objective on shares of City from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, January 24th.

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.