Citadel Advisors LLC Has $3.01 Million Stock Holdings in City Holding (NASDAQ:CHCO)

Citadel Advisors LLC grew its position in City Holding (NASDAQ:CHCO) by 153.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,365 shares of the bank’s stock after buying an additional 15,342 shares during the period. Citadel Advisors LLC owned approximately 0.17% of City worth $3,005,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in City by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 550,755 shares of the bank’s stock worth $65,253,000 after purchasing an additional 22,226 shares during the period. JPMorgan Chase & Co. grew its position in City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank’s stock worth $31,071,000 after buying an additional 51,055 shares in the last quarter. Northern Trust Corp increased its holdings in City by 2.3% in the 4th quarter. Northern Trust Corp now owns 178,962 shares of the bank’s stock valued at $21,203,000 after buying an additional 3,944 shares during the period. Axxcess Wealth Management LLC increased its stake in shares of City by 0.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 109,418 shares of the bank’s stock valued at $12,964,000 after purchasing an additional 885 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in City by 3.2% during the fourth quarter. American Century Companies Inc. now owns 92,244 shares of the bank’s stock worth $10,929,000 after acquiring an additional 2,903 shares in the last quarter. Institutional investors and hedge funds own 72.43% of the company’s stock.

Insider Buying and Selling at City

In other news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James M. Parsons purchased 2,200 shares of the company’s stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $122.38 per share, with a total value of $269,236.00. Following the purchase, the director now owns 2,700 shares of the company’s stock, valued at approximately $330,426. The trade was a 440.00% increase in their ownership of the stock. 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 three months. 1.87% of the stock is currently owned by insiders.

City Price Performance

Shares of NASDAQ CHCO opened at $122.20 on Wednesday. The company has a market capitalization of $1.77 billion, a PE ratio of 15.49 and a beta of 0.52. 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 fifty day simple moving average of $116.64 and a 200 day simple moving average of $120.32. City Holding has a twelve month low of $99.63 and a twelve month high of $137.28.

City (NASDAQ:CHCO) last issued 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. 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 analyst estimates of $73.28 million. On average, sell-side analysts forecast that City Holding will post 7.58 EPS for the current year.

City Announces Dividend

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

Analyst Upgrades and Downgrades

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

About City

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.