6,400 Shares in City Holding Company $CHCO Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of City Holding Company (NASDAQ:CHCO) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 6,400 shares of the bank’s stock, valued at approximately $765,000.

Several other institutional investors have also recently made changes to their positions in CHCO. Two Sigma Investments LP raised its position in shares of City by 136.4% during the 3rd quarter. Two Sigma Investments LP now owns 123,803 shares of the bank’s stock valued at $15,335,000 after buying an additional 71,436 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in City by 63.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 77,039 shares of the bank’s stock worth $9,543,000 after buying an additional 29,828 shares during the last quarter. JPMorgan Chase & Co. lifted its position in City by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,093 shares of the bank’s stock worth $26,272,000 after buying an additional 22,536 shares during the last quarter. Marshall Wace LLP purchased a new stake in City in the second quarter worth approximately $2,216,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in City during the fourth quarter valued at approximately $2,157,000. Institutional investors own 72.43% of the company’s stock.

Insider Buying and Selling at City

In other news, EVP Jeffrey Dale Legge sold 1,309 shares of City stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the transaction, the executive vice president owned 7,656 shares of the company’s stock, valued at $957,000. The trade was a 14.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael T. Quinlan, Jr. sold 1,210 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $126.09, for a total value of $152,568.90. Following the sale, the executive vice president owned 3,314 shares in the company, valued at approximately $417,862.26. This represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 455 shares of company stock worth $57,018 and have sold 12,975 shares worth $1,622,853. 1.75% of the stock is currently owned by company insiders.

City Trading Down 1.0%

Shares of City stock traded down $1.30 during midday trading on Tuesday, reaching $133.63. 14,734 shares of the company’s stock traded hands, compared to its average volume of 112,306. The stock has a 50 day moving average of $126.54 and a 200-day moving average of $124.11. City Holding Company has a 12 month low of $113.21 and a 12 month high of $136.17. The company has a market cap of $1.89 billion, a PE ratio of 14.72 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.84 and a current ratio of 0.84.

City (NASDAQ:CHCO) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.03. The business had revenue of $79.25 million for the quarter, compared to the consensus estimate of $79.25 million. City had a net margin of 32.72% and a return on equity of 16.58%. As a group, equities analysts expect that City Holding Company will post 8.99 EPS for the current fiscal year.

City announced that its board has approved a share repurchase plan on Wednesday, March 25th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.6%. City’s dividend payout ratio is currently 38.33%.

Analysts Set New Price Targets

Several research analysts have commented on CHCO shares. Weiss Ratings reissued a “buy (b)” rating on shares of City in a research note on Wednesday, May 27th. Hovde Group increased their target price on shares of City from $133.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.25.

City Company Profile

City Holding Company (NASDAQ:CHCO) is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.

The company’s product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.