BNP Paribas Financial Markets Acquires 3,054 Shares of City Holding (NASDAQ:CHCO)

BNP Paribas Financial Markets grew its holdings in shares of City Holding (NASDAQ:CHCO) by 56.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,484 shares of the bank’s stock after buying an additional 3,054 shares during the quarter. BNP Paribas Financial Markets owned 0.06% of City worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 22,226 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of City by 24.2% in the 4th quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank’s stock worth $31,071,000 after purchasing an additional 51,055 shares during the period. Northern Trust Corp increased its position in shares of City by 2.3% during the 4th quarter. Northern Trust Corp now owns 178,962 shares of the bank’s stock valued at $21,203,000 after purchasing an additional 3,944 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in City by 0.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank’s stock valued at $12,964,000 after buying an additional 885 shares during the period. Finally, American Century Companies Inc. raised its holdings in City by 3.2% during the 4th quarter. American Century Companies Inc. now owns 92,244 shares of the bank’s stock valued at $10,929,000 after buying an additional 2,903 shares during the period. Institutional investors own 72.43% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler dropped 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.

Insiders Place Their Bets

In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of City stock in a transaction that occurred on Thursday, May 1st. The shares were 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 of the company’s stock, valued at approximately $328,902.60. The trade was a 33.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James M. Parsons purchased 2,200 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $122.38 per share, with a total value of $269,236.00. Following the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at $330,426. This trade represents a 440.00% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 3,069 shares of company stock worth $359,820 over the last quarter. Company insiders own 1.87% of the company’s stock.

City Stock Performance

Shares of NASDAQ:CHCO opened at $122.20 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. City Holding has a 12 month low of $99.63 and a 12 month high of $137.28. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 15.49 and a beta of 0.52. The firm’s 50-day moving average is $116.64 and its 200 day moving average is $120.32.

City (NASDAQ:CHCO) last announced 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 return on equity of 16.49% and a net margin of 30.83%. The business had revenue of $74.55 million during the quarter, compared to analyst estimates of $73.28 million. Research analysts predict that City Holding will post 7.58 EPS for the current year.

City Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.59%. The ex-dividend date was Tuesday, April 15th. City’s dividend payout ratio (DPR) is presently 39.60%.

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.