Invesco Ltd. Boosts Holdings in City Holding (NASDAQ:CHCO)

Invesco Ltd. increased its holdings in shares of City Holding (NASDAQ:CHCO) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,100 shares of the bank’s stock after acquiring an additional 594 shares during the period. Invesco Ltd. owned approximately 0.52% of City worth $9,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in shares of City in the 4th quarter worth approximately $246,000. Dynamic Technology Lab Private Ltd bought a new stake in City in the fourth quarter worth $402,000. Wells Fargo & Company MN increased its holdings in shares of City by 6.5% during the fourth quarter. Wells Fargo & Company MN now owns 24,940 shares of the bank’s stock valued at $2,955,000 after acquiring an additional 1,530 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of City in the 4th quarter worth about $1,130,000. Finally, Pictet Asset Management Holding SA boosted its stake in City by 30.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,470 shares of the bank’s stock worth $293,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at City

In other City news, CFO David L. Bumgarner sold 556 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $120.00, for a total transaction of $66,720.00. Following the completion of the sale, the chief financial officer now directly owns 9,395 shares in the company, valued at $1,127,400. The trade was a 5.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles W. Fairchilds sold 500 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $120.50, for a total transaction of $60,250.00. Following the sale, the director now directly owns 1,014 shares of the company’s stock, valued at $122,187. The trade was a 33.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,226 shares of company stock worth $147,200. Insiders own 1.87% of the company’s stock.

City Trading Up 1.7 %

Shares of NASDAQ:CHCO opened at $117.14 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. City Holding has a 1 year low of $99.63 and a 1 year high of $137.28. The company has a market cap of $1.72 billion, a P/E ratio of 14.85 and a beta of 0.48. The stock’s fifty day moving average price is $115.86 and its 200-day moving average price is $120.06.

City (NASDAQ:CHCO) last posted its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.22. City had a net margin of 30.83% and a return on equity of 16.49%. The business had revenue of $74.55 million for the quarter, compared to analysts’ expectations of $73.28 million. Sell-side analysts expect that City Holding will post 7.58 earnings per share for the current year.

City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, April 15th. City’s dividend payout ratio (DPR) is presently 40.05%.

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.