Vanguard Group Inc. Decreases Stock Position in City Holding Company $CHCO

Vanguard Group Inc. trimmed its holdings in City Holding Company (NASDAQ:CHCO) by 1.2% during the third quarter, Holdings Channel.com reports. The fund owned 1,691,311 shares of the bank’s stock after selling 20,195 shares during the period. Vanguard Group Inc. owned 0.12% of City worth $209,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in shares of City by 113.1% in the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank’s stock valued at $46,000 after purchasing an additional 198 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of City by 463.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $52,000 after purchasing an additional 352 shares in the last quarter. CWM LLC raised its position in shares of City by 45.9% during the 3rd quarter. CWM LLC now owns 467 shares of the bank’s stock worth $58,000 after purchasing an additional 147 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in City by 28.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 497 shares of the bank’s stock valued at $61,000 after buying an additional 110 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in City in the 1st quarter valued at approximately $104,000. Institutional investors and hedge funds own 72.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CHCO. Weiss Ratings reissued a “buy (b+)” rating on shares of City in a report on Tuesday, December 23rd. Wall Street Zen cut City from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Piper Sandler boosted their target price on shares of City from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, City presently has an average rating of “Hold” and a consensus target price of $134.50.

Insider Activity

In related news, CEO Charles R. Hageboeck sold 1,275 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $125.33, for a total value of $159,795.75. Following the sale, the chief executive officer directly owned 49,084 shares of the company’s stock, valued at approximately $6,151,697.72. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.87% of the company’s stock.

City Price Performance

Shares of NASDAQ:CHCO opened at $119.97 on Monday. The company has a market cap of $1.72 billion, a P/E ratio of 13.42 and a beta of 0.51. The business has a fifty day simple moving average of $123.51 and a 200-day simple moving average of $123.33. City Holding Company has a 52 week low of $102.22 and a 52 week high of $133.59. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19.

City (NASDAQ:CHCO) last released its earnings results on Wednesday, January 21st. The bank reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.11). The business had revenue of $60.83 million for the quarter, compared to analysts’ expectations of $81.38 million. City had a return on equity of 16.61% and a net margin of 32.56%. Equities research analysts forecast that City Holding Company will post 7.58 EPS for the current year.

About City

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.