Public Sector Pension Investment Board Raises Stake in City Holding Company $CHCO

Public Sector Pension Investment Board raised its stake in shares of City Holding Company (NASDAQ:CHCO) by 14.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,499 shares of the bank’s stock after buying an additional 7,081 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of City worth $6,999,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Citizens Bank & Trust Co. bought a new position in shares of City in the second quarter worth $414,000. Y Intercept Hong Kong Ltd bought a new position in City in the 2nd quarter worth about $903,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of City in the 2nd quarter valued at about $406,000. SG Americas Securities LLC boosted its position in shares of City by 255.3% during the 3rd quarter. SG Americas Securities LLC now owns 8,936 shares of the bank’s stock valued at $1,107,000 after acquiring an additional 6,421 shares during the last quarter. Finally, AlphaQuest LLC boosted its position 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 during the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at City

In other City news, CEO Charles R. Hageboeck sold 2,017 shares of City stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $120.68, for a total value of $243,411.56. Following the transaction, the chief executive officer directly owned 50,359 shares of the company’s stock, valued at $6,077,324.12. The trade was a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.87% of the company’s stock.

City Trading Down 0.1%

CHCO stock opened at $126.51 on Wednesday. City Holding Company has a one year low of $102.22 and a one year high of $133.59. The company has a market capitalization of $1.82 billion, a PE ratio of 14.15 and a beta of 0.52. The company’s 50 day moving average price is $123.95 and its two-hundred day moving average price is $123.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.83.

City (NASDAQ:CHCO) last issued its earnings results on Wednesday, January 21st. The bank reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.11). The business had revenue of $60.83 million during the quarter, compared to analysts’ expectations of $81.38 million. City had a return on equity of 16.61% and a net margin of 32.56%. As a group, analysts predict that City Holding Company will post 7.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of City in a research note on Tuesday, December 23rd. Piper Sandler increased their price target on shares of City from $125.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Wall Street Zen downgraded shares of City from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $134.50.

About City

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.