City Holding Company $CHCO Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in City Holding Company (NASDAQ:CHCO) by 69.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 546 shares of the bank’s stock after acquiring an additional 223 shares during the quarter. GAMMA Investing LLC’s holdings in City were worth $67,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings 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 purchasing an additional 115 shares during the period. CWM LLC lifted its holdings 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 purchasing an additional 86 shares during the period. First United Bank & Trust acquired a new stake in shares of City during the first quarter worth about $78,000. Jones Financial Companies Lllp acquired a new stake in shares of City during the first quarter worth about $104,000. Finally, PNC Financial Services Group Inc. lifted its holdings 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 purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.

Insider Activity

In other City 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 transaction of $327,650.00. Following the sale, 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 through 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 stock was sold at an average price of $131.12, for a total value of $131,120.00. Following the sale, the executive vice president owned 1,830 shares in the company, valued at approximately $239,949.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 305 shares of company stock worth $38,750. 1.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CHCO has been the subject of a number of research reports. Zacks Research downgraded City from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Wall Street Zen downgraded City from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “buy (b)” rating on shares of City in a report on Saturday, September 27th. Keefe, Bruyette & Woods boosted their price target on City from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. Finally, DA Davidson boosted their price target on City from $128.00 to $137.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $133.25.

City Stock Performance

Shares of City stock opened at $122.74 on Friday. City Holding Company has a 52 week low of $102.22 and a 52 week high of $137.28. The business’s fifty day simple moving average is $124.89 and its 200-day simple moving average is $121.17. The firm has a market cap of $1.78 billion, a PE ratio of 14.77 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 (NASDAQ:CHCO) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.32. City had a return on equity of 16.30% and a net margin of 31.35%.The company had revenue of $78.16 million for the quarter, compared to the consensus estimate of $76.10 million. Equities analysts forecast that City Holding Company will post 7.58 earnings per share for the current year.

City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.87 per share. This is a positive change from City’s previous quarterly dividend of $0.79. The ex-dividend date is Wednesday, October 15th. This represents a $3.48 annualized dividend and a yield of 2.8%. City’s dividend payout ratio (DPR) is currently 41.88%.

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.