New York State Common Retirement Fund lowered its holdings in City Holding (NASDAQ:CHCO) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,800 shares of the bank’s stock after selling 3,000 shares during the quarter. New York State Common Retirement Fund owned 0.10% of City worth $1,000,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. Prudential Financial Inc. lifted its position in shares of City by 4.3% during the 4th quarter. Prudential Financial Inc. now owns 27,185 shares of the bank’s stock valued at $1,837,000 after acquiring an additional 1,120 shares during the period. Piedmont Investment Advisors Inc. increased its position in shares of City by 11.1% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 3,946 shares of the bank’s stock worth $267,000 after acquiring an additional 393 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of City during the fourth quarter worth about $428,000. Comerica Bank increased its position in shares of City by 7.6% during the fourth quarter. Comerica Bank now owns 16,092 shares of the bank’s stock worth $1,160,000 after acquiring an additional 1,134 shares during the last quarter. Finally, Smith Asset Management Group LP purchased a new stake in shares of City during the fourth quarter worth about $1,163,000. 67.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on CHCO shares. Boenning Scattergood reiterated a “hold” rating on shares of City in a research note on Wednesday. Zacks Investment Research upgraded City from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, BidaskClub upgraded City from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. City has a consensus rating of “Hold” and a consensus price target of $80.00.
Shares of CHCO traded down $2.20 during mid-day trading on Friday, reaching $80.36. 52,144 shares of the company’s stock traded hands, compared to its average volume of 57,043. The stock has a market cap of $1.33 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. City Holding has a 12 month low of $65.32 and a 12 month high of $83.27.
City (NASDAQ:CHCO) last announced its earnings results on Wednesday, April 17th. The bank reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.08. City had a return on equity of 15.10% and a net margin of 31.16%. The firm had revenue of $55.99 million for the quarter, compared to analysts’ expectations of $55.33 million. As a group, analysts forecast that City Holding will post 5.29 EPS for the current year.
The company 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. The ex-dividend date is Friday, April 12th. This represents a $2.12 annualized dividend and a yield of 2.64%. City’s payout ratio is 41.09%.
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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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