Y Intercept Hong Kong Ltd Makes New $903,000 Investment in City Holding Company $CHCO

Y Intercept Hong Kong Ltd acquired a new position in shares of City Holding Company (NASDAQ:CHCO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,373 shares of the bank’s stock, valued at approximately $903,000. Y Intercept Hong Kong Ltd owned approximately 0.05% of City as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHCO. Envestnet Asset Management Inc. boosted its stake in shares of City by 15.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,346 shares of the bank’s stock valued at $287,000 after buying an additional 317 shares during the period. AlphaQuest LLC grew its holdings in shares of City by 26.3% during the 2nd quarter. AlphaQuest LLC now owns 11,384 shares of the bank’s stock valued at $1,394,000 after acquiring an additional 2,372 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of City during the 2nd quarter valued at $414,000. TrueMark Investments LLC purchased a new position in shares of City during the 2nd quarter valued at $2,249,000. Finally, Axxcess Wealth Management LLC grew its holdings in shares of City by 0.4% during the 2nd quarter. Axxcess Wealth Management LLC now owns 109,751 shares of the bank’s stock valued at $13,436,000 after acquiring an additional 485 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHCO has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of City in a report on Wednesday, October 8th. Wall Street Zen cut shares of City from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Hovde Group boosted their price target on shares of City from $130.00 to $136.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. DA Davidson boosted their price target on shares of City from $128.00 to $137.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of City from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $133.25.

City Stock Down 0.1%

CHCO stock opened at $118.92 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. City Holding Company has a 1 year low of $102.22 and a 1 year high of $137.28. The company has a fifty day simple moving average of $123.59 and a 200 day simple moving average of $122.17. The firm has a market cap of $1.72 billion, a PE ratio of 13.67 and a beta of 0.53.

City (NASDAQ:CHCO) last released its quarterly earnings data on Wednesday, October 22nd. The bank reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.26. The business had revenue of $81.26 million during the quarter, compared to analyst estimates of $80.17 million. City had a net margin of 32.33% and a return on equity of 16.66%. Sell-side analysts anticipate that City Holding Company will post 7.58 EPS for the current fiscal year.

City Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. This is a positive change from City’s previous quarterly dividend of $0.79. City’s dividend payout ratio (DPR) is presently 40.00%.

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.