Millennium Management LLC Has $8.75 Million Holdings in City Holding (NASDAQ:CHCO)

Millennium Management LLC decreased its position in City Holding (NASDAQ:CHCO) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,881 shares of the bank’s stock after selling 5,556 shares during the period. Millennium Management LLC owned approximately 0.50% of City worth $8,753,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CHCO. Guggenheim Capital LLC lifted its stake in shares of City by 1.3% in the 4th quarter. Guggenheim Capital LLC now owns 8,838 shares of the bank’s stock valued at $1,047,000 after purchasing an additional 114 shares during the period. PNC Financial Services Group Inc. increased its holdings in City by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,366 shares of the bank’s stock worth $162,000 after purchasing an additional 131 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in City by 4.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,426 shares of the bank’s stock valued at $524,000 after buying an additional 176 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of City by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,247 shares of the bank’s stock worth $977,000 after buying an additional 235 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of City by 3.7% during the 4th quarter. MetLife Investment Management LLC now owns 8,719 shares of the bank’s stock worth $1,033,000 after buying an additional 310 shares during the period. Institutional investors own 72.43% of the company’s stock.

Insider Buying and Selling at City

In other City news, EVP Michael T. Quinlan, Jr. sold 1,400 shares of City 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 transaction, the executive vice president now owns 2,830 shares in the company, valued at approximately $328,902.60. The trade was a 33.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Parsons acquired 2,200 shares of the stock in a transaction dated Monday, May 12th. The stock was bought 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 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. Over the last three months, insiders have sold 3,069 shares of company stock valued at $359,820. Corporate insiders own 1.87% of the company’s stock.

City Stock Down 0.5%

City stock opened at $118.16 on Monday. The company has a market capitalization of $1.71 billion, a PE ratio of 14.98 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 firm’s fifty day moving average is $116.69 and its 200 day moving average is $120.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.21.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $2.06 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 firm had revenue of $74.55 million during the quarter, compared to the consensus estimate of $73.28 million. As a group, sell-side analysts predict that City Holding will post 7.58 EPS for the current fiscal 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 issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.16 annualized dividend and a yield of 2.67%. City’s payout ratio 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.