Swiss National Bank Trims Stock Holdings in City Holding (NASDAQ:CHCO)

Swiss National Bank decreased its position in City Holding (NASDAQ:CHCO) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,700 shares of the bank’s stock after selling 1,700 shares during the period. Swiss National Bank owned approximately 0.22% of City worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in City by 448.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 101,676 shares of the bank’s stock worth $8,316,000 after purchasing an additional 83,132 shares during the period. Royce & Associates LP grew its position in City by 23.9% during the 1st quarter. Royce & Associates LP now owns 139,760 shares of the bank’s stock worth $11,430,000 after purchasing an additional 26,979 shares during the period. JPMorgan Chase & Co. grew its position in City by 5.5% during the 1st quarter. JPMorgan Chase & Co. now owns 516,541 shares of the bank’s stock worth $42,242,000 after purchasing an additional 26,938 shares during the period. TD Asset Management Inc. grew its position in City by 59.9% during the 1st quarter. TD Asset Management Inc. now owns 52,300 shares of the bank’s stock worth $4,277,000 after purchasing an additional 19,600 shares during the period. Finally, HRT Financial LP grew its position in City by 432.9% during the 1st quarter. HRT Financial LP now owns 22,668 shares of the bank’s stock worth $1,853,000 after purchasing an additional 18,414 shares during the period. Institutional investors own 65.80% of the company’s stock.

NASDAQ:CHCO opened at $75.86 on Friday. City Holding has a 52 week low of $55.34 and a 52 week high of $88.49. The stock has a market capitalization of $1.17 billion, a PE ratio of 14.29 and a beta of 0.65. The stock’s 50-day moving average price is $76.16 and its 200-day moving average price is $78.19.

City (NASDAQ:CHCO) last posted its earnings results on Thursday, July 22nd. The bank reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.25. City had a return on equity of 12.05% and a net margin of 35.48%. The firm had revenue of $55.71 million for the quarter, compared to analysts’ expectations of $55.00 million. As a group, equities research analysts expect that City Holding will post 5.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 30th. Stockholders of record on Thursday, July 15th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Wednesday, July 14th. City’s dividend payout ratio (DPR) is presently 41.80%.

In other news, CFO David L. Bumgarner sold 1,130 shares of the firm’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $76.15, for a total transaction of $86,049.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.68% of the stock is owned by company insiders.

Separately, Zacks Investment Research raised City from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Thursday, July 1st.

City Profile

City Holding Co is a financial holding company, which engages in the provision of financial and community banking services. The firm offers savings and checking accounts, credit and debit cards, loans, online and mobile banking, commercial and mortgage loans, trust services and wealth management services.

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Institutional Ownership by Quarter for City (NASDAQ:CHCO)

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