GAMMA Investing LLC Purchases 37,669 Shares of City Holding (NASDAQ:CHCO)

GAMMA Investing LLC raised its position in City Holding (NASDAQ:CHCO) by 13,747.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 37,943 shares of the bank’s stock after buying an additional 37,669 shares during the period. GAMMA Investing LLC owned about 0.26% of City worth $4,457,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CHCO. Sterling Capital Management LLC boosted its position in shares of City by 781.3% in the 4th quarter. Sterling Capital Management LLC now owns 423 shares of the bank’s stock worth $50,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of City by 710.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 462 shares of the bank’s stock worth $56,000 after purchasing an additional 405 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of City by 10.6% in the 4th 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of City by 10.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,437 shares of the bank’s stock worth $170,000 after purchasing an additional 140 shares during the last quarter. Finally, Apollon Wealth Management LLC bought a new position in shares of City in the 4th quarter worth $227,000. 72.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other City news, CFO David L. Bumgarner sold 1,058 shares of City stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $118.00, for a total transaction of $124,844.00. Following the transaction, the chief financial officer now directly owns 10,636 shares in the company, valued at approximately $1,255,048. The trade was a 9.05% 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 business’s stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $122.38 per share, for a total transaction of $269,236.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $330,426. This represents a 440.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 2,899 shares of company stock worth $339,590. Corporate insiders own 1.87% of the company’s stock.

City Stock Up 0.8%

NASDAQ:CHCO opened at $119.53 on Wednesday. The stock’s fifty day simple moving average is $116.74 and its 200-day simple moving average is $119.21. 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 capitalization of $1.73 billion, a P/E ratio of 15.15 and a beta of 0.54. City Holding has a 12-month low of $99.79 and a 12-month high of $137.28.

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

City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Tuesday, July 15th. This represents a $3.16 annualized dividend and a yield of 2.64%. City’s dividend payout ratio 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.