Teacher Retirement System of Texas Trims Stake in City Holding Company (NASDAQ:CHCO)

Teacher Retirement System of Texas lessened its stake in shares of City Holding Company (NASDAQ:CHCO) by 50.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,947 shares of the bank’s stock after selling 5,092 shares during the quarter. Teacher Retirement System of Texas’ holdings in City were worth $581,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CHCO. JPMorgan Chase & Co. boosted its stake in shares of City by 24.2% during the fourth quarter. JPMorgan Chase & Co. now owns 262,243 shares of the bank’s stock valued at $31,071,000 after acquiring an additional 51,055 shares during the last quarter. Norges Bank purchased a new position in City in the 4th quarter valued at about $5,203,000. GAMMA Investing LLC boosted its stake in shares of City by 13,747.8% during the 1st quarter. GAMMA Investing LLC now owns 37,943 shares of the bank’s stock worth $4,457,000 after purchasing an additional 37,669 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of City by 117.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 42,159 shares of the bank’s stock worth $4,995,000 after buying an additional 22,741 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in City by 153.1% in the 4th quarter. Citadel Advisors LLC now owns 25,365 shares of the bank’s stock valued at $3,005,000 after acquiring an additional 15,342 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

City Trading Up 1.0%

Shares of CHCO stock opened at $123.70 on Thursday. The firm’s 50-day simple moving average is $120.90 and its 200-day simple moving average is $118.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. City Holding Company has a 1-year low of $102.22 and a 1-year high of $137.28. The firm has a market cap of $1.79 billion, a P/E ratio of 15.50 and a beta of 0.54.

City (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.22. The company had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. City had a net margin of 30.62% and a return on equity of 16.15%. As a group, equities analysts forecast that City Holding Company will post 7.58 EPS for the current year.

City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Tuesday, July 15th. City’s dividend payout ratio (DPR) is presently 39.60%.

Insiders Place Their Bets

In related news, CFO David L. Bumgarner sold 441 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $118.00, for a total transaction of $52,038.00. Following the completion of the sale, the chief financial officer owned 10,195 shares of the company’s stock, valued at approximately $1,203,010. This represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president directly owned 2,830 shares in the company, valued at approximately $328,902.60. This trade represents a 33.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,899 shares of company stock worth $339,590 over the last three months. 1.87% of the stock is owned by insiders.

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.