Dimensional Fund Advisors LP increased its position in City Holding (NASDAQ:CHCO) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 730,022 shares of the bank’s stock after acquiring an additional 10,985 shares during the period. Dimensional Fund Advisors LP owned approximately 4.74% of City worth $49,343,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in City by 2.0% during the third quarter. Wells Fargo & Company MN now owns 46,461 shares of the bank’s stock worth $3,569,000 after buying an additional 917 shares in the last quarter. Bank of New York Mellon Corp grew its position in City by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 264,068 shares of the bank’s stock worth $20,280,000 after buying an additional 6,851 shares in the last quarter. BlackRock Inc. grew its position in City by 3.8% during the third quarter. BlackRock Inc. now owns 2,220,133 shares of the bank’s stock worth $170,505,000 after buying an additional 81,160 shares in the last quarter. Schroder Investment Management Group grew its position in City by 53.4% during the third quarter. Schroder Investment Management Group now owns 11,577 shares of the bank’s stock worth $889,000 after buying an additional 4,031 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of City by 6.5% in the 3rd quarter. Royce & Associates LP now owns 292,616 shares of the bank’s stock worth $22,473,000 after purchasing an additional 17,939 shares in the last quarter. 67.34% of the stock is currently owned by institutional investors and hedge funds.
CHCO has been the subject of a number of research reports. Zacks Investment Research upgraded City from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Friday, December 21st. BidaskClub cut City from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of City in a report on Thursday, January 24th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. City presently has an average rating of “Hold” and an average target price of $80.00.
City (NASDAQ:CHCO) last posted its quarterly earnings data on Thursday, January 24th. The bank reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. The firm had revenue of $51.14 million during the quarter, compared to analysts’ expectations of $52.88 million. City had a return on equity of 15.26% and a net margin of 31.15%. As a group, equities research analysts expect that City Holding will post 5.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, April 12th. City’s dividend payout ratio is presently 41.09%.
In related news, CEO Charles R. Hageboeck sold 4,154 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $79.77, for a total transaction of $331,364.58. Following the completion of the sale, the chief executive officer now directly owns 60,405 shares in the company, valued at approximately $4,818,506.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 1,593 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $79.50, for a total value of $126,643.50. Following the sale, the chief executive officer now owns 57,121 shares of the company’s stock, valued at $4,541,119.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,565 shares of company stock valued at $522,916 over the last 90 days. 3.36% of the stock is currently owned by company insiders.
City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States. The company accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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