Vanguard Group Inc. boosted its stake in shares of City Holding Company (NASDAQ:CHCO) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,412,228 shares of the bank’s stock after buying an additional 61,429 shares during the period. Vanguard Group Inc. owned 9.05% of City Holding worth $91,061,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CHCO. Russell Investments Group Ltd. bought a new position in shares of City Holding during the fourth quarter worth $961,000. Thrivent Financial for Lutherans increased its stake in City Holding by 7.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,200 shares of the bank’s stock worth $554,000 after buying an additional 600 shares during the period. Norges Bank acquired a new stake in City Holding during the fourth quarter worth $12,519,000. Teachers Advisors LLC increased its stake in City Holding by 1.5% in the fourth quarter. Teachers Advisors LLC now owns 27,185 shares of the bank’s stock worth $1,838,000 after buying an additional 413 shares during the period. Finally, Macquarie Group Ltd. increased its stake in City Holding by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 492,363 shares of the bank’s stock worth $33,284,000 after buying an additional 34,316 shares during the period. 61.59% of the stock is owned by hedge funds and other institutional investors.
Shares of City Holding Company (NASDAQ:CHCO) opened at 60.42 on Friday. City Holding Company has a 12 month low of $48.40 and a 12 month high of $74.90. The company has a market cap of $943.58 million, a price-to-earnings ratio of 15.81 and a beta of 0.84. The stock has a 50 day moving average of $64.90 and a 200-day moving average of $65.53.
City Holding (NASDAQ:CHCO) last posted its quarterly earnings data on Monday, July 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. City Holding had a return on equity of 12.62% and a net margin of 29.07%. The firm had revenue of $46.18 million for the quarter, compared to the consensus estimate of $46.45 million. During the same quarter last year, the company earned $0.83 earnings per share. On average, analysts forecast that City Holding Company will post $3.87 EPS for the current year.
The firm also recently announced 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. This represents a $1.76 annualized dividend and a yield of 2.91%. The ex-dividend date was Wednesday, July 12th. City Holding’s dividend payout ratio (DPR) is presently 45.95%.
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A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of City Holding from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded shares of City Holding from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, April 21st. Finally, ValuEngine upgraded shares of City Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.33.
In related news, EVP Craig G. Stilwell sold 1,822 shares of City Holding stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $65.07, for a total transaction of $118,557.54. Following the sale, the executive vice president now owns 25,043 shares of the company’s stock, valued at approximately $1,629,548.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles R. Hageboeck sold 6,821 shares of City Holding stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $65.71, for a total value of $448,207.91. Following the sale, the chief executive officer now directly owns 75,080 shares in the company, valued at approximately $4,933,506.80. The disclosure for this sale can be found here. Insiders have sold a total of 18,655 shares of company stock worth $1,212,366 in the last three months. 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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