Citigroup Inc. Sells 4,638 Shares of City Holding Company $CHCO

Citigroup Inc. decreased its holdings in shares of City Holding Company (NASDAQ:CHCO) by 23.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,379 shares of the bank’s stock after selling 4,638 shares during the period. Citigroup Inc. owned 0.11% of City worth $1,905,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of City by 5.6% during the 1st quarter. Royal Bank of Canada now owns 15,586 shares of the bank’s stock worth $1,831,000 after buying an additional 821 shares during the period. AQR Capital Management LLC grew its holdings in City by 34.5% in the first quarter. AQR Capital Management LLC now owns 8,977 shares of the bank’s stock worth $1,055,000 after purchasing an additional 2,305 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in City by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank’s stock valued at $1,014,000 after purchasing an additional 387 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in City in the first quarter valued at $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of City by 7.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank’s stock valued at $4,497,000 after purchasing an additional 2,603 shares during the period. Institutional investors and hedge funds own 72.43% of the company’s stock.

City Price Performance

Shares of NASDAQ CHCO opened at $117.99 on Monday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 13.20 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. City Holding Company has a fifty-two week low of $102.22 and a fifty-two week high of $133.59. The firm’s 50-day simple moving average is $123.13 and its 200 day simple moving average is $123.23.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Charles R. Hageboeck sold 1,275 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $125.33, for a total transaction of $159,795.75. Following the completion of the sale, the chief executive officer owned 49,084 shares in the company, valued at approximately $6,151,697.72. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.87% of the stock is currently owned by insiders.

City Company Profile

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.