City Holding Company $CHCO Position Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of City Holding Company (NASDAQ:CHCO) by 15.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,012 shares of the bank’s stock after purchasing an additional 1,786 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.09% of City worth $1,677,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of City by 43.9% during the first quarter. CWM LLC now owns 282 shares of the bank’s stock worth $33,000 after acquiring an additional 86 shares during the last quarter. Bessemer Group Inc. grew its position in shares of City by 69.7% during the first quarter. Bessemer Group Inc. now owns 280 shares of the bank’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. First United Bank & Trust bought a new position in shares of City during the first quarter worth about $78,000. Jones Financial Companies Lllp bought a new position in shares of City during the first quarter worth about $104,000. Finally, PNC Financial Services Group Inc. grew its position in shares of City by 31.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the bank’s stock worth $212,000 after acquiring an additional 436 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

Insider Transactions at City

In other news, EVP Jeffrey Dale Legge sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $131.06, for a total value of $327,650.00. Following the transaction, the executive vice president owned 7,037 shares in the company, valued at $922,269.22. This represents a 26.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $131.12, for a total value of $131,120.00. Following the completion of the transaction, the executive vice president owned 1,830 shares in the company, valued at $239,949.60. This represents a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 305 shares of company stock worth $38,750 in the last quarter. 1.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CHCO has been the subject of several recent research reports. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Hovde Group upped their price objective on shares of City from $130.00 to $136.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their price objective on shares of City from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. DA Davidson upped their price objective on shares of City from $128.00 to $137.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Zacks Research downgraded shares of City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $133.25.

City Price Performance

CHCO stock opened at $124.15 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.20. City Holding Company has a one year low of $102.22 and a one year high of $137.28. The firm has a market capitalization of $1.80 billion, a PE ratio of 14.94 and a beta of 0.57. The firm has a 50-day moving average of $125.48 and a two-hundred day moving average of $121.08.

City (NASDAQ:CHCO) last posted its quarterly earnings data on Tuesday, July 22nd. The bank reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.32. The company had revenue of $78.16 million during the quarter, compared to analyst estimates of $76.10 million. City had a net margin of 31.35% and a return on equity of 16.30%. On average, analysts forecast that City Holding Company will post 7.58 earnings per share for the current year.

City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a $0.87 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from City’s previous quarterly dividend of $0.79. City’s dividend payout ratio is currently 38.03%.

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.