First Trust Advisors LP Has $7.37 Million Holdings in City Holding Company $CHCO

First Trust Advisors LP lifted its holdings in City Holding Company (NASDAQ:CHCO) by 35.2% during the first quarter, HoldingsChannel.com reports. The firm owned 61,693 shares of the bank’s stock after purchasing an additional 16,060 shares during the period. First Trust Advisors LP’s holdings in City were worth $7,374,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. ProShare Advisors LLC boosted its holdings in City by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 2,740 shares of the bank’s stock worth $327,000 after purchasing an additional 81 shares during the last quarter. Apollon Wealth Management LLC increased its stake in City by 4.2% in the 4th quarter. Apollon Wealth Management LLC now owns 1,996 shares of the bank’s stock valued at $238,000 after buying an additional 81 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in City by 28.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock worth $61,000 after buying an additional 110 shares in the last quarter. R Squared Ltd lifted its position in City by 6.6% during the 4th quarter. R Squared Ltd now owns 2,135 shares of the bank’s stock worth $254,000 after buying an additional 132 shares in the last quarter. Finally, First Horizon Corp boosted its stake in shares of City by 146.0% during the 4th quarter. First Horizon Corp now owns 246 shares of the bank’s stock worth $29,000 after buying an additional 146 shares during the last quarter. Institutional investors own 72.43% of the company’s stock.

City Price Performance

Shares of CHCO opened at $145.11 on Friday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 15.88 and a beta of 0.49. City Holding Company has a 1-year low of $113.21 and a 1-year high of $146.66. The company’s fifty day simple moving average is $132.08 and its 200 day simple moving average is $126.07. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $81.52 million for the quarter, compared to analyst estimates of $80.64 million. City had a net margin of 32.58% and a return on equity of 16.38%. On average, research analysts forecast that City Holding Company will post 9.29 earnings per share for the current fiscal year.

City Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 15th. City’s dividend payout ratio is presently 38.07%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Hovde Group raised their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings upgraded City from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, City currently has an average rating of “Hold” and a consensus price target of $136.50.

Insider Activity

In related news, EVP Jeffrey Dale Legge sold 1,309 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $125.00, for a total value of $163,625.00. Following the completion of the sale, the executive vice president directly owned 7,656 shares in the company, valued at approximately $957,000. This trade represents a 14.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David L. Bumgarner sold 1,161 shares of City stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $124.50, for a total value of $144,544.50. Following the transaction, the chief financial officer owned 10,666 shares of the company’s stock, valued at $1,327,917. The trade was a 9.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 544 shares of company stock valued at $71,900 and have sold 10,020 shares valued at $1,339,923. 1.75% of the stock is owned by insiders.

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.