Vanguard Group Inc. boosted its position in shares of City Holding Company (NASDAQ:CHCO) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,412,228 shares of the bank’s stock after buying an additional 61,429 shares during the period. Vanguard Group Inc. owned about 9.05% of City Holding worth $91,061,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in City Holding by 6.2% in the first quarter. State of Alaska Department of Revenue now owns 1,720 shares of the bank’s stock valued at $110,000 after buying an additional 100 shares during the last quarter. Capital One National Association increased its position in City Holding by 1.1% in the first quarter. Capital One National Association now owns 11,169 shares of the bank’s stock valued at $720,000 after buying an additional 119 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its stake in shares of City Holding by 5.4% in the first quarter. Alpha Omega Wealth Management LLC now owns 4,356 shares of the bank’s stock worth $281,000 after buying an additional 222 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of City Holding by 5.0% in the first quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the bank’s stock worth $406,000 after buying an additional 300 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of City Holding by 3.9% in the first quarter. Arizona State Retirement System now owns 8,070 shares of the bank’s stock worth $520,000 after buying an additional 300 shares during the last quarter. 62.38% of the stock is owned by institutional investors and hedge funds.
City Holding Company (CHCO) traded down 1.80% during mid-day trading on Friday, hitting $60.97. 70,211 shares of the stock were exchanged. City Holding Company has a 52 week low of $48.17 and a 52 week high of $74.90. The firm has a market capitalization of $952.17 million, a price-to-earnings ratio of 15.95 and a beta of 0.84. The company’s 50-day moving average price is $65.42 and its 200 day moving average price is $65.70.
City Holding (NASDAQ:CHCO) last posted its earnings results on Monday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. City Holding had a net margin of 29.07% and a return on equity of 12.62%. The firm had revenue of $46.18 million for the quarter, compared to the consensus estimate of $46.45 million. During the same period in the previous year, the firm posted $0.83 EPS. Equities research analysts expect that City Holding Company will post $3.87 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.89%. City Holding’s dividend payout ratio is presently 45.95%.
Several research analysts have recently weighed in on CHCO shares. Zacks Investment Research cut shares of City Holding from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. ValuEngine raised shares of City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub cut shares of City Holding from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. City Holding currently has an average rating of “Hold” and a consensus target price of $70.33.
In related news, EVP John A. Derito sold 2,688 shares of City Holding stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.85, for a total transaction of $168,940.80. Following the completion of the transaction, the executive vice president now directly owns 22,844 shares of the company’s stock, valued at approximately $1,435,745.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jeffrey Dale Legge sold 899 shares of City Holding stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $67.55, for a total transaction of $60,727.45. Following the transaction, the chief accounting officer now directly owns 7,151 shares of the company’s stock, valued at $483,050.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,586 shares of company stock valued at $1,726,691. 3.88% of the stock is owned by corporate insiders.
About City Holding
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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