JNBA Financial Advisors bought a new position in shares of City Holding (NASDAQ:CHCO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,114 shares of the bank’s stock, valued at approximately $239,000.
Several other large investors have also added to or reduced their stakes in CHCO. BlackRock Inc. lifted its position in shares of City by 5.8% during the second quarter. BlackRock Inc. now owns 2,138,973 shares of the bank’s stock worth $160,914,000 after purchasing an additional 116,628 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of City during the first quarter worth $3,539,000. FMR LLC lifted its position in shares of City by 5.7% during the second quarter. FMR LLC now owns 662,748 shares of the bank’s stock worth $49,859,000 after purchasing an additional 35,748 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of City by 8.5% during the second quarter. Macquarie Group Ltd. now owns 374,790 shares of the bank’s stock worth $28,195,000 after purchasing an additional 29,235 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of City by 11.5% during the second quarter. Royce & Associates LP now owns 274,677 shares of the bank’s stock worth $20,664,000 after purchasing an additional 28,300 shares during the last quarter. Institutional investors and hedge funds own 66.89% of the company’s stock.
In other City news, CEO Charles R. Hageboeck sold 3,986 shares of City stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $81.00, for a total value of $322,866.00. Following the transaction, the chief executive officer now owns 65,959 shares in the company, valued at $5,342,679. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Derito sold 2,020 shares of City stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $82.25, for a total value of $166,145.00. Following the completion of the transaction, the executive vice president now owns 20,972 shares in the company, valued at approximately $1,724,947. The disclosure for this sale can be found here. Insiders sold 8,831 shares of company stock valued at $722,639 over the last 90 days. 3.83% of the stock is currently owned by corporate insiders.
CHCO stock opened at $74.80 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.14 billion, a P/E ratio of 15.09, a PEG ratio of 1.85 and a beta of 0.57. City Holding has a 1-year low of $64.32 and a 1-year high of $83.27.
City (NASDAQ:CHCO) last released its quarterly earnings data on Monday, October 22nd. The bank reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.14. The firm had revenue of $51.31 million during the quarter, compared to the consensus estimate of $49.58 million. City had a return on equity of 15.11% and a net margin of 31.58%. On average, sell-side analysts anticipate that City Holding will post 4.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Monday, October 15th were issued a $0.53 dividend. This is an increase from City’s previous quarterly dividend of $0.46. This represents a $2.12 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, October 12th. City’s payout ratio is presently 53.81%.
Several analysts recently weighed in on the company. BidaskClub downgraded City from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Zacks Investment Research downgraded City from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 25th. DA Davidson set a $77.00 price objective on City and gave the company a “buy” rating in a report on Friday, July 13th. Boenning Scattergood restated a “hold” rating on shares of City in a report on Tuesday, October 23rd. Finally, ValuEngine downgraded City from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $78.67.
City Holding Company operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States. The company accepts various deposit products, such as checking, savings, and money market accounts, as well as certificates of deposit and individual retirement accounts.
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