Two Sigma Advisers LP decreased its holdings in City Holding (NASDAQ:CHCO) by 33.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,335 shares of the bank’s stock after selling 4,100 shares during the quarter. Two Sigma Advisers LP owned about 0.05% of City worth $563,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CHCO. BlackRock Inc. raised its stake in shares of City by 6.3% during the 4th quarter. BlackRock Inc. now owns 2,359,912 shares of the bank’s stock valued at $159,507,000 after buying an additional 139,779 shares during the last quarter. Vanguard Group Inc increased its stake in shares of City by 2.4% in the 3rd quarter. Vanguard Group Inc now owns 1,590,260 shares of the bank’s stock valued at $122,133,000 after purchasing an additional 36,829 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of City by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,590,260 shares of the bank’s stock valued at $122,133,000 after purchasing an additional 36,829 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of City by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 730,022 shares of the bank’s stock valued at $49,343,000 after purchasing an additional 10,985 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of City by 2.6% in the 4th quarter. Northern Trust Corp now owns 474,566 shares of the bank’s stock valued at $32,075,000 after purchasing an additional 11,845 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.
CHCO has been the subject of several recent analyst reports. BidaskClub upgraded City from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research cut City from a “strong-buy” rating to a “hold” 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $80.00.
City (NASDAQ:CHCO) last issued its earnings results on Wednesday, April 17th. The bank reported $1.30 earnings per share 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 business had revenue of $55.99 million for the quarter, compared to analysts’ expectations of $55.33 million. As a group, research analysts expect that City Holding will post 5.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Friday, April 12th. City’s dividend payout ratio is presently 41.09%.
In related news, EVP Craig G. Stilwell sold 818 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $79.35, for a total value of $64,908.30. Following the transaction, the executive vice president now directly owns 23,124 shares in the company, valued at $1,834,889.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles R. Hageboeck sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $80.27, for a total value of $642,160.00. Following the completion of the transaction, the chief executive officer now owns 62,157 shares in the company, valued at $4,989,342.39. The disclosure for this sale can be found here. Insiders sold 20,738 shares of company stock worth $1,653,995 over the last quarter. 3.36% of the stock is currently owned by insiders.
City Company Profile
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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