Northern Trust Corp raised its holdings in shares of City Holding Company (NASDAQ:CHCO) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 478,138 shares of the bank’s stock after purchasing an additional 10,505 shares during the period. Northern Trust Corp owned 3.06% of City Holding worth $31,495,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in CHCO. BlackRock Inc. increased its stake in City Holding by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,913,498 shares of the bank’s stock worth $126,042,000 after purchasing an additional 7,009 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of City Holding by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 1,412,228 shares of the bank’s stock valued at $91,061,000 after buying an additional 61,429 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of City Holding by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 696,154 shares of the bank’s stock valued at $44,888,000 after buying an additional 3,451 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of City Holding by 4.2% in the 1st quarter. Macquarie Group Ltd. now owns 513,264 shares of the bank’s stock valued at $33,095,000 after buying an additional 20,901 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of City Holding by 27.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 497,902 shares of the bank’s stock valued at $32,797,000 after buying an additional 106,203 shares during the last quarter. 62.53% of the stock is owned by institutional investors.
In other news, CEO Charles R. Hageboeck sold 2,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $62.78, for a total transaction of $125,560.00. Following the completion of the sale, the chief executive officer now owns 72,984 shares in the company, valued at approximately $4,581,935.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.88% of the stock is owned by corporate insiders.
City Holding Company (CHCO) opened at 71.59 on Friday. The company has a market cap of $1.12 billion, a PE ratio of 18.73 and a beta of 0.86. City Holding Company has a 12 month low of $51.04 and a 12 month high of $74.90. The company has a 50 day moving average price of $69.38 and a 200-day moving average price of $66.51.
City Holding (NASDAQ:CHCO) last announced its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $45.90 million during the quarter, compared to analyst estimates of $47.18 million. City Holding had a return on equity of 12.34% and a net margin of 29.25%. City Holding’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Equities analysts predict that City Holding Company will post $3.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.76 dividend on an annualized basis and a yield of 2.46%. City Holding’s dividend payout ratio is currently 45.83%.
CHCO has been the subject of several recent analyst reports. BidaskClub raised City Holding from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Zacks Investment Research downgraded City Holding from a “hold” rating to a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.33.
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City Holding Company Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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