Public Employees Retirement System of Ohio Acquires 324 Shares of City Holding Company $CHCO

Public Employees Retirement System of Ohio boosted its position in shares of City Holding Company (NASDAQ:CHCO) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,694 shares of the bank’s stock after acquiring an additional 324 shares during the quarter. Public Employees Retirement System of Ohio owned 0.15% of City worth $2,656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHCO. Bessemer Group Inc. raised its position in 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 in the last quarter. CWM LLC raised its position in 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 in the last quarter. GAMMA Investing LLC raised its position in City by 69.0% during the second quarter. GAMMA Investing LLC now owns 546 shares of the bank’s stock worth $67,000 after acquiring an additional 223 shares in the last quarter. First United Bank & Trust bought a new stake in City during the first quarter worth $78,000. Finally, Jones Financial Companies Lllp bought a new stake in City during the first quarter worth $104,000. 72.43% of the stock is owned by institutional investors.

Insider Transactions at City

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 value of $327,650.00. Following the sale, the executive vice president directly owned 7,037 shares in the company, valued at approximately $922,269.22. This trade represents a 26.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael T. Quinlan, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $131.12, for a total transaction of $131,120.00. Following the completion of the sale, the executive vice president owned 1,830 shares in the company, valued at approximately $239,949.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 305 shares of company stock worth $38,750 over the last quarter. Corporate insiders own 1.87% of the company’s stock.

City Trading Down 1.1%

Shares of City stock opened at $122.51 on Thursday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 14.74 and a beta of 0.53. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.20. City Holding Company has a 12-month low of $102.22 and a 12-month high of $137.28. The firm’s 50-day moving average price is $125.16 and its two-hundred day moving average price is $121.11.

City (NASDAQ:CHCO) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.32. The firm had revenue of $78.16 million for the quarter, compared to the consensus estimate 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 fiscal year.

City Increases Dividend

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

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. Keefe, Bruyette & Woods increased their price objective on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Hovde Group increased their price objective on shares of City from $130.00 to $136.00 and gave the company a “market perform” rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of City from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Zacks Research lowered shares of City from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, City has an average rating of “Hold” and a consensus target price of $133.25.

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.