Texas Permanent School Fund reduced its holdings in City Holding (NASDAQ:CHCO) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,556 shares of the bank’s stock after selling 845 shares during the period. Texas Permanent School Fund’s holdings in City were worth $712,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CHCO. Piedmont Investment Advisors LLC bought a new position in City in the 2nd quarter worth approximately $222,000. Crossmark Global Holdings Inc. bought a new position in City in the 3rd quarter worth approximately $248,000. Asset Management One Co. Ltd. bought a new position in City in the 3rd quarter worth approximately $315,000. Municipal Employees Retirement System of Michigan increased its position in City by 59.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the bank’s stock worth $421,000 after buying an additional 2,170 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in City by 27.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,461 shares of the bank’s stock worth $426,000 after buying an additional 1,400 shares during the period. 64.55% of the stock is currently owned by institutional investors.
In other news, CFO David L. Bumgarner sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $73.00, for a total transaction of $73,000.00. Following the sale, the chief financial officer now directly owns 10,965 shares in the company, valued at $800,445. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.88% of the company’s stock.
Shares of City Holding (NASDAQ CHCO) opened at $69.53 on Friday. The stock has a market capitalization of $1,085.92, a P/E ratio of 17.60, a PEG ratio of 1.94 and a beta of 0.77. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. City Holding has a 1 year low of $58.80 and a 1 year high of $74.90.
City (NASDAQ:CHCO) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.11. The business had revenue of $47.96 million for the quarter, compared to analysts’ expectations of $47.43 million. City had a return on equity of 12.40% and a net margin of 26.25%. analysts predict that City Holding will post 4.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, January 11th. This is a boost from City’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.65%. City’s payout ratio is currently 52.72%.
City Company Profile
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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