Deutsche Bank AG Has $2.73 Million Position in City Holding Company $CHCO

Deutsche Bank AG raised its stake in City Holding Company (NASDAQ:CHCO) by 81.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,260 shares of the bank’s stock after buying an additional 10,450 shares during the quarter. Deutsche Bank AG owned about 0.16% of City worth $2,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CHCO. Bessemer Group Inc. lifted its position in shares of City by 69.7% in the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. CWM LLC lifted its position in shares of City by 43.9% in the first quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after purchasing an additional 86 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of City by 781.3% in 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 in the last quarter. First United Bank & Trust bought a new stake in shares of City in the first quarter worth $78,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of City by 10.8% in the fourth 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 in the last quarter. Institutional investors own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CHCO shares. DA Davidson upped their price target on shares of City from $128.00 to $137.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Hovde Group upped their price target on shares of City from $130.00 to $136.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of City from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $133.25.

Insider Buying and Selling

In other news, EVP Jeffrey Dale Legge sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.06, for a total transaction of $327,650.00. Following the completion of the sale, the executive vice president owned 7,037 shares of the company’s stock, valued at $922,269.22. This trade represents a 26.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of City stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total transaction of $131,120.00. Following the completion of the sale, the executive vice president directly owned 1,830 shares of the company’s stock, valued at approximately $239,949.60. The trade was a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 305 shares of company stock valued at $38,750 in the last three months. Insiders own 1.87% of the company’s stock.

City Trading Up 0.1%

CHCO stock opened at $123.39 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day simple moving average is $122.99 and its 200 day simple moving average is $119.25. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28. The company has a market capitalization of $1.79 billion, a PE ratio of 14.85 and a beta of 0.56.

City (NASDAQ:CHCO) last posted its earnings results on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.32. The firm had revenue of $78.16 million during the quarter, compared to analysts’ expectations of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.30%. As a group, sell-side analysts anticipate that City Holding Company will post 7.58 earnings per share for the current year.

City Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 15th. City’s dividend payout ratio is currently 38.03%.

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.