Legal & General Group Plc Takes $4.58 Million Position in City Holding Company $CHCO

Legal & General Group Plc bought a new position in shares of City Holding Company (NASDAQ:CHCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 34,566 shares of the bank’s stock, valued at approximately $4,585,000. Legal & General Group Plc owned about 0.25% of City at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of City by 5.6% in the 1st quarter. Royal Bank of Canada now owns 15,586 shares of the bank’s stock worth $1,831,000 after purchasing an additional 821 shares during the period. AQR Capital Management LLC lifted its holdings in City by 34.5% in the first quarter. AQR Capital Management LLC now owns 8,977 shares of the bank’s stock valued at $1,055,000 after buying an additional 2,305 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in City by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,634 shares of the bank’s stock valued at $1,014,000 after buying an additional 387 shares during the period. Jones Financial Companies Lllp bought a new stake in City during the first quarter valued at $104,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in City by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,285 shares of the bank’s stock worth $4,497,000 after acquiring an additional 2,603 shares during the period. 72.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sharon H. Rowe sold 400 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $143.96, for a total value of $57,584.00. Following the transaction, the director directly owned 10,576 shares of the company’s stock, valued at approximately $1,522,520.96. The trade was a 3.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Hageboeck sold 4,485 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $144.96, for a total transaction of $650,145.60. Following the transaction, the chief executive officer owned 43,998 shares of the company’s stock, valued at approximately $6,377,950.08. The trade was a 9.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought a total of 444 shares of company stock worth $59,740 over the last quarter. Company insiders own 1.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CHCO shares. Hovde Group boosted their price objective on City from $135.00 to $143.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings upgraded City from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $136.50.

City Stock Up 0.7%

Shares of NASDAQ:CHCO opened at $144.95 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 15.86 and a beta of 0.48. The business’s 50 day moving average is $140.68 and its 200 day moving average is $129.59. City Holding Company has a 12-month low of $113.21 and a 12-month high of $148.99.

City (NASDAQ:CHCO) last announced its earnings results on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The company had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. On average, sell-side analysts forecast that City Holding Company will post 9.29 earnings per share for the current fiscal year.

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.