GWM Advisors LLC increased its position in City Holding (NASDAQ:CHCO) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,438 shares of the bank’s stock after acquiring an additional 650 shares during the quarter. GWM Advisors LLC owned about 0.14% of City worth $1,787,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of City by 74.2% in the fourth quarter. Bank of America Corp DE now owns 67,789 shares of the bank’s stock worth $4,582,000 after purchasing an additional 28,872 shares in the last quarter. Norges Bank bought a new stake in shares of City in the fourth quarter worth $9,173,000. BNP Paribas Arbitrage SA lifted its position in shares of City by 932.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,674 shares of the bank’s stock worth $280,000 after purchasing an additional 3,318 shares in the last quarter. NTV Asset Management LLC lifted its position in shares of City by 8.2% in the first quarter. NTV Asset Management LLC now owns 16,944 shares of the bank’s stock worth $1,291,000 after purchasing an additional 1,278 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of City by 143.6% in the first quarter. SG Americas Securities LLC now owns 6,671 shares of the bank’s stock worth $508,000 after purchasing an additional 3,932 shares in the last quarter. 67.54% of the stock is owned by institutional investors.
In other City news, CFO David L. Bumgarner sold 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $76.65, for a total value of $76,650.00. Following the transaction, the chief financial officer now directly owns 8,936 shares in the company, valued at $684,944.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig G. Stilwell sold 2,700 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $74.92, for a total transaction of $202,284.00. Following the completion of the transaction, the executive vice president now owns 15,696 shares in the company, valued at $1,175,944.32. The disclosure for this sale can be found here. 3.36% of the stock is currently owned by insiders.
A number of brokerages have recently commented on CHCO. Hovde Group began coverage on shares of City in a research report on Monday, June 3rd. They issued a “market perform” rating and a $76.00 price objective on the stock. Boenning Scattergood restated a “neutral” rating on shares of City in a report on Thursday, June 20th. BidaskClub upgraded shares of City from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research downgraded shares of City from a “buy” rating to a “hold” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, City has an average rating of “Hold” and a consensus target price of $81.50.
CHCO traded down $0.48 during trading on Tuesday, reaching $75.47. 1,365 shares of the stock were exchanged, compared to its average volume of 64,027. The stock has a market cap of $1.24 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.77 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 stock’s 50 day moving average price is $75.50 and its two-hundred day moving average price is $76.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87.
City (NASDAQ:CHCO) last issued its earnings results on Monday, July 22nd. The bank reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.08. The business had revenue of $58.74 million for the quarter, compared to the consensus estimate of $57.24 million. City had a net margin of 30.14% and a return on equity of 14.52%. Equities research analysts predict that City Holding will post 5.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were issued a dividend of $0.53 per share. The ex-dividend date was Friday, July 12th. This represents a $2.12 dividend on an annualized basis and a yield of 2.81%. City’s payout ratio is 41.09%.
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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