D. E. Shaw & Co. Inc. Lowers Stock Holdings in City Holding (NASDAQ:CHCO)

D. E. Shaw & Co. Inc. reduced its position in City Holding (NASDAQ:CHCO) by 33.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,170 shares of the bank’s stock after selling 2,132 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in City were worth $494,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in City by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,498 shares of the bank’s stock worth $1,481,000 after acquiring an additional 893 shares during the last quarter. Barclays PLC grew its holdings in shares of City by 125.3% during the third quarter. Barclays PLC now owns 28,845 shares of the bank’s stock worth $3,385,000 after purchasing an additional 16,044 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of City by 4.2% in the fourth 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 last quarter. Apollon Wealth Management LLC bought a new position in shares of City in the fourth quarter worth approximately $227,000. Finally, Principal Financial Group Inc. raised its stake in City by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 78,010 shares of the bank’s stock valued at $9,243,000 after purchasing an additional 2,726 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Trading Down 0.5%

Shares of CHCO stock opened at $118.16 on Monday. The business has a 50-day moving average price of $116.69 and a two-hundred day moving average price of $120.19. City Holding has a 12-month low of $99.63 and a 12-month high of $137.28. 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 market cap of $1.71 billion, a P/E ratio of 14.98 and a beta of 0.52.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share 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 company had revenue of $74.55 million during the quarter, compared to analysts’ expectations of $73.28 million. Equities analysts anticipate that City Holding will post 7.58 EPS for the current fiscal year.

City Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Tuesday, April 15th. City’s dividend payout ratio is currently 39.60%.

Insider Activity

In related news, Director James M. Parsons bought 2,200 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 2,700 shares in the company, valued at approximately $330,426. The trade was a 440.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David L. Bumgarner sold 441 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $118.00, for a total value of $52,038.00. Following the sale, the chief financial officer now directly owns 10,195 shares in the company, valued at $1,203,010. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,069 shares of company stock worth $359,820 in the last quarter. 1.87% of the stock is owned by company insiders.

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.