Nisa Investment Advisors LLC Sells 1,219 Shares of City Holding Company (NASDAQ:CHCO)

Nisa Investment Advisors LLC trimmed its stake in shares of City Holding Company (NASDAQ:CHCO) by 43.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,575 shares of the bank’s stock after selling 1,219 shares during the quarter. Nisa Investment Advisors LLC’s holdings in City were worth $185,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of City by 781.3% during the fourth 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 period. First United Bank & Trust bought a new position in City during the 1st quarter valued at $78,000. PNC Financial Services Group Inc. boosted its holdings 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 buying an additional 131 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in 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 acquiring an additional 140 shares during the last quarter. 72.43% of the stock is currently owned by institutional investors.

City Trading Up 1.3%

City stock opened at $125.34 on Friday. The firm’s fifty day moving average price is $121.02 and its 200-day moving average price is $118.34. The stock has a market cap of $1.81 billion, a P/E ratio of 15.71 and a beta of 0.54. City Holding Company has a fifty-two week low of $102.22 and a fifty-two week high of $137.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.83.

City (NASDAQ:CHCO) last announced its 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. City had a net margin of 30.62% and a return on equity of 16.15%. The firm had revenue of $74.55 million for the quarter, compared to analyst estimates of $73.28 million. Equities research analysts forecast that City Holding Company will post 7.58 earnings per share for the current fiscal year.

City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $3.16 dividend on an annualized basis and a yield of 2.52%. City’s dividend payout ratio is currently 39.60%.

Insider Buying and Selling

In other 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 value of $162,708.00. Following the sale, the executive vice president directly owned 2,830 shares of the company’s stock, valued at approximately $328,902.60. The trade was a 33.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James M. Parsons purchased 2,200 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired 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 directly owned 2,700 shares in the company, valued at $330,426. The trade was a 440.00% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,899 shares of company stock valued at $339,590. 1.87% of the stock is owned by corporate 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.