Jane Street Group LLC Sells 10,995 Shares of City Holding (NASDAQ:CHCO)

Jane Street Group LLC trimmed its position in City Holding (NASDAQ:CHCO) by 44.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,022 shares of the bank’s stock after selling 10,995 shares during the period. Jane Street Group LLC owned 0.10% of City worth $1,661,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC grew its holdings in City by 125.3% during the 3rd quarter. Barclays PLC now owns 28,845 shares of the bank’s stock worth $3,385,000 after acquiring an additional 16,044 shares during the period. Franklin Resources Inc. grew its holdings in City by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 9,362 shares of the bank’s stock worth $1,116,000 after acquiring an additional 404 shares during the period. KBC Group NV grew its holdings in City by 60.3% during the 4th 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. DAVENPORT & Co LLC grew its holdings in City by 4.1% during the 4th quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock worth $524,000 after acquiring an additional 176 shares during the period. Finally, Longboard Asset Management LP acquired a new stake in City during the 4th quarter worth about $211,000. 72.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CFO David L. Bumgarner sold 1,058 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $118.00, for a total transaction of $124,844.00. Following the transaction, the chief financial officer now owns 10,636 shares in the company, valued at $1,255,048. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $116.22, for a total transaction of $162,708.00. Following the completion of the sale, the executive vice president now owns 2,830 shares in the company, valued at approximately $328,902.60. This trade represents a 33.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,069 shares of company stock valued at $359,820. Insiders own 1.87% of the company’s stock.

City Trading Down 0.5%

NASDAQ:CHCO opened at $122.80 on Monday. The stock has a market capitalization of $1.78 billion, a PE ratio of 15.56 and a beta of 0.52. City Holding has a 12 month low of $99.63 and a 12 month high of $137.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $116.33 and its 200 day moving average is $120.27.

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

City Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Tuesday, April 15th. City’s dividend payout ratio (DPR) is 39.60%.

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.