Clark Capital Management Group Inc. purchased a new position in shares of City Holding (NASDAQ:CHCO) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,261 shares of the bank’s stock, valued at approximately $3,829,000.
Several other hedge funds have also bought and sold shares of the business. Quantamental Technologies LLC purchased a new position in shares of City in the fourth quarter worth $57,000. LS Investment Advisors LLC increased its stake in shares of City by 183.5% in the fourth quarter. LS Investment Advisors LLC now owns 1,273 shares of the bank’s stock worth $86,000 after buying an additional 824 shares during the period. SG Americas Securities LLC purchased a new position in shares of City in the fourth quarter worth $185,000. Crossmark Global Holdings Inc. increased its stake in shares of City by 10.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 3,073 shares of the bank’s stock worth $208,000 after buying an additional 290 shares during the period. Finally, Magnus Financial Group LLC purchased a new position in shares of City in the fourth quarter worth $211,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CAO Jeffrey Dale Legge sold 1,534 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $79.00, for a total transaction of $121,186.00. Following the sale, the chief accounting officer now owns 6,693 shares in the company, valued at approximately $528,747. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles R. Hageboeck sold 4,154 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $79.77, for a total transaction of $331,364.58. Following the sale, the chief executive officer now owns 60,405 shares in the company, valued at approximately $4,818,506.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,738 shares of company stock worth $1,653,995. 3.36% of the stock is currently owned by company insiders.
NASDAQ:CHCO opened at $77.44 on Wednesday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.83 and a beta of 0.76. City Holding has a twelve month low of $65.32 and a twelve month high of $83.27. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01.
City (NASDAQ:CHCO) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $55.99 million for the quarter, compared to analysts’ expectations of $55.33 million. City had a net margin of 31.16% and a return on equity of 15.10%. As a group, analysts predict that City Holding will post 5.25 earnings per share for the current fiscal year.
The business also recently declared 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 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, April 12th. City’s dividend payout ratio (DPR) is currently 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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